New SEC Chair Paul Atkins recently addressed lawmakers in one of his first public appearances since taking the helm at the U.S. Securities and Exchange Commission, outlining his early priorities—including the regulation of digital assets.
During a May 20 congressional hearing focused on SEC oversight, Atkins emphasized his commitment to placing crypto regulation at the forefront of the agency’s agenda. Responding to questions from Representative Chuck Edwards of North Carolina, Atkins declined to specify how much funding had been allocated to the crypto-focused task force led by Commissioner Hester Peirce. He noted that the group’s work remains ongoing.
“We anticipate releasing something in the coming months that will outline our proposed next steps,” Atkins said, referring to the task force’s debut report.
The hearing marked one of Atkins’ first since assuming office in April, following his nomination by former President Donald Trump. With previous experience as an SEC commissioner, Atkins has been viewed by some lawmakers and crypto advocates as a potential catalyst for a significant shift in the agency’s stance on digital assets.
Hoping for Congressional Support on Crypto Legislation
Atkins’ comments came shortly after the Senate advanced discussions on the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act)—a legislative effort aimed at establishing a clearer regulatory framework for stablecoins. The outcome of this and similar bills could shape how the SEC and other regulators, such as the Commodity Futures Trading Commission (CFTC), approach the crypto sector.
“Whatever Congress decides […] will help provide a foundation for our regulatory efforts,” Atkins noted.
Since taking office, Atkins has participated in several commission-led roundtables focused on the digital asset space. The next major session, scheduled for June 9, will bring together SEC commissioners and crypto industry leaders to address challenges surrounding decentralized finance (DeFi).
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