Atkins declares SEC crypto guidance 'just the start' of regulatory framework
During a Thursday presentation at the Practising Law Institute, Paul Atkins outlined the SEC's forthcoming strategy for cryptocurrency regulation and enforcement as market structure bills progress through Congress.
Paul Atkins, the current Chair of the US Securities and Exchange Commission (SEC), has provided details on the agency's planned strategy for regulating digital assets in the wake of an interpretative notice published earlier this week.
During prepared statements delivered Thursday at the Practising Law Institute, Atkins indicated that the SEC plans to shift away from the prior "regulation by enforcement" strategy when dealing with digital assets. The SEC chair explained that the agency's initial priority would be establishing its interpretation of federal securities laws as they relate to cryptocurrencies, a move that comes after the agency entered into a memorandum of understanding with the Commodity Futures Trading Commission (CFTC) during the previous week.
"[...] While the interpretation provides long-needed clarity, I should like to assure this audience that it amounts to a beginning, not an end,"
said Atkins.
The interpretation issued by the agency on Tuesday outlined that the majority of cryptocurrencies would likely not qualify as securities according to federal law. The chair informed those present at the DC Blockchain Summit that under the agency's interpretation, "only one crypto asset class remains subject to the securities laws": specifically, "traditional securities that are tokenized."
Atkins subsequently provided clarification that digital commodities, digital tools, digital collectibles such as non-fungible tokens (NFTs), and stablecoins represented categories of digital assets that generally would not come under the SEC's regulatory jurisdiction.
Although the SEC interpretation has the potential to substantially alter the agency's methodology toward crypto regulation and enforcement, pending market structure legislation currently making its way through Congress is also anticipated to grant the CFTC expanded authority regarding the regulation and oversight of digital assets. This legislation, which was known as the CLARITY Act upon its passage through the House of Representatives in July 2025, had yet to be scheduled for a markup session in the Senate Banking Committee as of Thursday.
White House meets with US lawmakers behind closed doors
A representative for Wyoming Senator Cynthia Lummis verified with Cointelegraph that a meeting between Republican senators and White House crypto adviser Patrick Witt took place on Thursday to discuss moving the market structure bill forward. Despite the Senate Agriculture Committee having advanced its iteration of the legislation during January, disagreements surrounding how to handle stablecoin yield within the crypto and banking sectors have effectively halted advancement in the Senate Banking Committee.
Based on information from Lummis' team, the meeting was characterized as "very productive and positive," with the additional note that lawmakers were "99% of the way there on stablecoin yield," while "negotiations on the digital asset portions of the bill are in a good place."