US Securities and Exchange Commission has significantly shifted its approach to crypto regulation under Chair Paul Atkins, marking a break from the enforcement-heavy stance of predecessor Gary Gensler.
Since taking office in April 2025, Atkins has overseen the rollback of several enforcement actions against crypto firms and supported policies seen as more favourable to the digital asset industry.
“A year goes by quickly, but we’ve made huge progress,”
Said Atkins, adding the agency has moved away from “regulation through enforcement” toward greater transparency.
The SEC has also approved multiple crypto-related exchange-traded funds and signed a coordination agreement with the Commodity Futures Trading Commission to clarify oversight of digital assets.
In addition, the regulator issued guidance suggesting most cryptocurrencies may not be classified as securities under federal law, signalling a softer regulatory approach.
However, the shift has drawn criticism from lawmakers including Elizabeth Warren, who questioned declining enforcement activity and raised concerns about potential conflicts of interest.
The SEC’s long-term authority over crypto markets remains uncertain, with policymakers awaiting passage of broader market structure legislation to define regulatory boundaries.