The Chairman of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, has released a regulatory agenda that includes proposed rules that could significantly impact the agency's approach to handling digital assets.
In a notice on Thursday, the SEC published about 20 proposed rules as part of its Spring 2025 agenda. While the potential impact of each proposal on the cryptocurrency industry varies, many proposals indicate that the commission will continue to soften its enforcement approach, establish safe harbors, and restructure existing regulations to benefit projects.
Atkins stated, "This agenda covers potential rule proposals related to the issuance and sale of crypto assets to help clarify the regulatory framework for crypto assets and provide greater certainty to the market." He added: "[…] This agenda reflects our withdrawal of a series of projects from the previous administration that did not align with the goal of regulation being wise, effective, and appropriately tailored within our statutory authority."
The proposed rules in the SEC agenda include "certain exemptions and safe harbors" related to the issuance and sale of crypto assets, as well as amendments to the Securities Exchange Act "to consider the trading of crypto assets on [alternative trading systems] and national securities exchanges."
These modifications could allow cryptocurrency companies to operate with less regulatory oversight and reduce the risk of legal litigation.
Other proposals suggest amending the "broker-dealer financial responsibility rules," which could alleviate the reporting burden on cryptocurrency companies.
Broker-dealer rules have been a focal point of controversy for many in the cryptocurrency industry, as they impose know-your-customer and anti-money laundering regulations on networks, often without the means to collect such data.
However, it is noteworthy that the proposed rule changes suggest "modernizing" the SEC framework to accommodate cryptocurrencies.
The commission proposed to "improve" the 1940 Investment Advisers Act that governs custody regulations to address cryptocurrency issues—less than eight months after a proposal to include digital assets under stricter guidelines was rejected.
Although these rules are proposed as part of Atkins and the SEC agenda, they must undergo extensive procedures before adoption, including a public comment period and review.
Since former SEC Chairman Gary Gensler resigned on January 20, many of the commission's decisions represent a complete shift: abandoning years of investigations and lawsuits and issuing statements indicating a change in enforcement approach. As SEC Chairman, Atkins has certain authority in explaining the commission's rules and guidelines regarding cryptocurrencies.
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Original article: “SEC Releases Regulatory Agenda Including Cryptocurrency Safe Harbors, Broker-Dealer Reforms”
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