In his speech on Thursday, Atkins stated that the SEC will move away from its previous model of “regulation by enforcement.” Instead, the regulator aims to establish a clear regulatory framework that better reflects the actual structure and functioning of the markets.
According to him, for years the SEC has effectively regulated the crypto market not through rulemaking, but through enforcement actions. This approach, Atkins noted, has led to a significant portion of innovation shifting outside the United States.
He explicitly stated that “an entire generation of digital innovation has developed outside the United States not due to a lack of entrepreneurial spirit, but due to a lack of regulatory will.”
New strategy for crypto regulation
The new policy is built around a three-part strategy referred to as the “A-C-T” approach. It includes adapting existing rules to modern market structures, clarifying regulatory responsibilities, and simplifying current regulations.
Under the new framework, a significant portion of digital assets will not fall under US securities laws. This includes digital commodities, stablecoins, and NFTs. Securities status will primarily apply to tokenized traditional financial instruments.
The SEC is also strengthening cooperation with the US Commodity Futures Trading Commission (CFTC). The two agencies previously signed a memorandum of understanding to coordinate responsibilities and reduce regulatory overlap.
