In a landmark speech at the OECD’s inaugural Roundtable on Global Financial Markets in Paris on September 10, U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins declared, “Crypto’s time has come.” He laid out an ambitious vision for the future of cryptocurrency markets in the United States, emphasizing a departure from enforcement-driven policymaking in favor of clear, structured guidelines for the burgeoning digital asset ecosystem. This move, Atkins suggests, heralds a “golden age of financial innovation on U.S. soil.”
A New Era for U.S. Crypto Regulation
Atkins announced the expansion of “Project Crypto,” initially unveiled on July 31, 2025, which aims to modernize the U.S. securities rulebook and bring markets on-chain. This initiative aligns with President Trump’s goal of establishing the United States as the global hub for cryptocurrency. By providing clear rules for tokens, custody, and trading platforms, Atkins hopes to eliminate the “endless legal uncertainty” that currently plagues crypto entrepreneurs.
The SEC Chair emphasized that most tokens do not classify as securities, promising bright-line rules to determine which crypto assets fall under SEC oversight. This clarity could provide entrepreneurs the confidence to raise capital on-chain without the fear of unpredictable regulatory repercussions. Moreover, Atkins pledged to update custody rules, allowing investors and intermediaries a range of options, thereby fostering a more inclusive and flexible market environment.
Integrating Innovation and Investor Protection
A key component of Atkins’ vision is the integration of trading, lending, and staking under a single license framework. Such a move could streamline operations for platforms and foster innovation without compromising investor protection. Project Crypto is set to pave the way for tokenized securities, new on-chain asset classes, and decentralized finance software, all while ensuring robust investor safeguards.
Atkins highlighted the potential for “super-app” trading platforms, which could revolutionize the financial landscape by offering comprehensive services on a single platform. He underscored the importance of keeping such innovation within the U.S., warning against the risk of watching these advancements take root overseas.
The Institutional Shift Toward Blockchain
The SEC’s shift in strategy coincides with growing interest from major financial institutions. Just days before Atkins’ speech, Nasdaq President Tal Cohen took to LinkedIn, labeling tokenization as an “extraordinary opportunity” for global markets. Cohen revealed that Nasdaq had filed with the SEC to enable trading of tokenized securities, a significant step that underscores the increasing institutional adoption of blockchain technology.
Addressing Global and Technological Challenges
In addition to crypto, Atkins addressed broader financial issues, including foreign company listings, accounting standards, and European regulation. He expressed concerns over “double materiality” in EU reporting laws and urged stable funding for the International Accounting Standards Board (IASB). Furthermore, he hinted at a potential revisit of the SEC’s 2007 decision to allow IFRS without reconciliation to U.S. GAAP, should funding issues persist.
Atkins also touched on the transformative potential of artificial intelligence (AI) in financial markets. He described a future where “agentic finance”—autonomous AI systems capable of executing trades, allocating capital, and managing risk—could operate at speeds beyond human capability. Such systems promise faster and cheaper markets, opening advanced strategies to a broader range of investors. When combined with blockchain infrastructure, these tools could empower individuals and enhance market competition.
Balancing Innovation with Caution
Despite the optimism, Atkins cautioned against overreacting with excessive regulation, advocating instead for “commonsense guardrails” to guide the development of on-chain capital markets and AI-driven finance. He stressed the need for the U.S. to lead the next generation of financial innovation, emphasizing that regulators must strike a delicate balance between fostering innovation and protecting investors.
In conclusion, Atkins’ message was clear: the United States stands at a crossroads. By embracing crypto and AI as pillars of the future financial ecosystem, the U.S. can position itself as a leader in global financial innovation. “Crypto’s time has come,” Atkins asserted, voicing a vision where U.S. markets don’t just participate in the next wave of financial innovation but lead it.
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
