In a groundbreaking speech at the inaugural OECD Roundtable on Global Financial Markets held in Paris, SEC Chair Gary Gensler discussed the future of regulation within the evolving landscape of finance, particularly focusing on the burgeoning field of cryptocurrencies. He emphasized the shift from the Commission’s traditional approach of “ad hoc enforcement actions” to a framework that will offer “clear, predictable rules of the road.”
Atkins highlighted the SEC’s initiative, Project Crypto, emphasizing its key aim to ascertain the security status of crypto assets. “Most crypto tokens are not securities, and we will draw the lines clearly,” he asserted. This clarity is deemed essential for entrepreneurs seeking to raise capital on blockchain platforms without facing prolonged legal ambiguities. Additionally, he advocated for the facilitation of “super-app” trading platforms, which could enhance market choice for participants.
One of Atkins’ pivotal points was the need for a unified regulatory framework governing the trading, lending, and staking activities offered by various digital asset platforms. He underscored the significance of agentic finance, where artificial intelligence agents are utilized to execute trades and manage risk while remaining compliant with existing securities laws. He noted that such advancements could yield “immense” benefits, including faster market operations, reduced costs, and improved access to financial strategies.
Addressing the role of the government in this technological evolution, Atkins called for the establishment of “commonsense guardrails” while also advocating for the removal of “regulatory obstructions.” He remarked, “On-chain capital markets and agentic finance are on the horizon, and the world is watching.” He further highlighted the importance of America taking an assertive stance in this arena, stating, “The choice before us is simple yet profound: either America steps forward with confidence and conviction, or others will. I choose leadership, freedom, and growth — for our markets, for our economy, and for the next generation.”
Atkins also announced the formal launch of Project Crypto on July 31, which aims to update and modernize securities regulations to facilitate the transition of U.S. financial markets onto blockchain infrastructure. Additionally, in a joint statement with the Commodity Futures Trading Commission (CFTC) on September 2, both entities confirmed that regulated exchanges are not barred from trading specific spot crypto asset products.
Following this, on September 5, the SEC and CFTC stated their intention to harmonize their regulatory efforts in order to provide greater clarity and fortify the strength of American capital markets. This collaborative approach signifies a pivotal moment in the regulatory landscape for digital assets, setting the stage for future innovations in the financial sector.
