On April 25, 2025, Paul Atkins, the Chair of the Securities and Exchange Commission, participated in a roundtable discussion hosted by the Crypto task Force in Washington. This event marked a significant moment in the evolving landscape of American cryptocurrency regulation, as Atkins called for clearer rules and regulations within the crypto sector.

Atkins emphasized that the current regulatory framework for cryptocurrencies is inadequate and has hindered innovation for years. He stated, “The market itself shows the current framework badly needs attention,” highlighting the need for regulatory clarity to foster growth and development in the industry. Atkins also noted that blockchain technology offers efficiency, cost reduction, and transparency, making it a valuable tool for the financial sector.

The roundtable discussion, held at the SEC headquarters, included representatives from industry leaders such as Fidelity Digital Assets and Anchorage Digital Bank. The conversation focused on the legal and operational challenges faced by the crypto industry under existing securities laws. Atkins acknowledged that while the SEC can act under current laws, there is a need for explicit regulatory guidelines tailored to the unique needs of the crypto industry.

Commissioner Hester Peirce, who heads the Crypto Task Force, advocated for self-custody regulations, smart contract regulations, and regulated tokenized securities. She warned that outdated rules could force investors to take greater risks, underscoring the importance of updating regulatory frameworks to protect investors while encouraging innovation.

Nasdaq also responded to the roundtable with a 23-page letter to the SEC, proposing a clear classification system to separate the duties of the SEC and the Commodity Futures Trading Commission (CFTC). This proposal aims to make oversight easier and facilitate the integration of cryptocurrencies into traditional markets.

Atkins acknowledged the need for regulatory adjustments and welcomed Congressional input for added clarity. He stated that the SEC has “ample room to maneuver” under current laws but recognized the importance of Congressional support in shaping future regulations. The roundtable discussion reflects a broader shift in U.S. crypto policy under the Trump administration, which has taken a more pro-crypto stance compared to previous administrations.

Atkins’ remarks align with the Trump administration’s pro-crypto sentiment, which has been evident in the recent election of pro-crypto congressional candidates. The crypto sector played a significant role in Trump’s 2024 campaign, and the administration’s support for the industry is expected to continue. The roundtable discussion also saw the participation of Commissioners Hester Peirce, Caroline Crenshaw, and Mark Uyeda, indicating a collaborative effort among regulators to address the challenges faced by the crypto industry.

However, Crenshaw expressed reservations about loosening the rules, concerned that it could put investor protections at risk. This highlights the ongoing debate within the regulatory community about the balance between fostering innovation and ensuring investor safety. Despite these concerns, the roundtable discussion marks a significant step towards a more pro-crypto regulatory environment in the United States.