The top U.S. regulator yesterday made clear efforts for change, saying that transferring stocks and bonds to cryptocurrencies and blockchains could open up new ways to buy, sell and own stocks.
Officials – New SEC Chairman Paul Atkins spoke at the roundtable on tokenization in Washington, similar to how music transformed from vinyl to digital documents. He warned that sticking to old rules could push innovation to sea and vowed to work with his colleagues to develop new guidelines.
Reviewed Issuance Guide
According to Atkins, only four crypto issuers have used the SEC’s full registration or “Regulations A” since these tokens first appeared. He said a few numbers suggest that the current form (such as the long form of S-1) may feel like “a square stud in a round hole.” He recommends developing clear avenues, including new exemptions or safe ports, so token products can meet basic disclosure needs without irrelevant details.
Reconsider the custody rules
According to the report, the SEC has canceled Employee Accounting Notice No. 121, which will entangle companies that want to hold digital assets. The speaker calls it the first step. He urged a new look at who can act as a “qualified custodian” and pointed out that some funds and consultants now use self-customer tools that may provide strong safeguards. There are only two “special purpose broker traders” today, who suggest that their narrow rules may be replaced by wiser models.
US SEC Chairman Paul Atkins. Image: Disruption Banking
Trading platforms gain new focus
Atkins said it was time for brokers to build “super apps” where customers could trade stocks, cryptocurrencies and other products in one place. He noted that nothing in the current law lists non-security tokens along with stocks. To achieve this, he asked employees to update rules for alternative trading systems and weigh whether national exchanges may hold a token list in the future.
Work Team Drives Coordination
Atkins also highlighted a newly formed crypto task force led by two fellow commissioners. He said the group addressed years of agency silos through aggregation of policy, legal and technical teams. He added that coordination will accelerate clear signals from investors and businesses. He pointed out that the effort came after a call from U.S. President Donald Trump to make the United States “the crypto capital of the earth.”
The regulator highlighted three main areas – issuance, custody and trading, and said that each area requires tailored rules. He believes the new standards will protect investors by clarifying what security is, the must-have tokens and where they can trade. He also promised to focus on fraud and manipulation rather than using enforcement actions to shape policies.
Featured images from Forkast News/Canva, charts from TradingView
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