Paul S. Atkins, chairman of the U.S. Securities and Exchange Commission (SEC), has officially announced a shift in regulatory approach towards the digital asset (cryptocurrency) industry. Instead of suppressing the cryptocurrency sector as in the past, the SEC now aims to provide clear guidelines for the market.
On Thursday, Chairman Atkins stated on his X (formerly Twitter) account that for far too long, the SEC has been hostile to new technologies and innovations, driving entrepreneurs overseas. That era is now over.
He further emphasized that under President Donald Trump’s leadership, it will collaborate with the administration and Congress to establish regulatory clarity for the digital asset market.
Earlier, President Donald Trump had also commented on Truth Social, saying that former SEC Chairman Gary Gensler and the anti-crypto faction have forced Bitcoin and innovative cryptocurrency companies to move overseas.
This reaffirms President Trump’s crypto-friendly stance, consistent with his self-proclaimed title of Bitcoin President.
He noted that the U.S. has once again become the global cryptocurrency capital, adding that developers and companies that had left for other countries are now returning to the U.S.
He also stressed that it will codify the structure of the cryptocurrency market to prevent opponents of regulation from reversing these changes.