Paul Atkins, former Chair of the U.S. Securities and Exchange Commission (SEC), expressed strong support for the future of crypto, emphasizing the need to modernize regulations for digital assets. He announced plans to expand “Project Crypto,” aiming to integrate financial markets with blockchain technology.
Speaking at the inaugural OECD Roundtable on Global Financial Markets in Paris on September 10th, as reported, Atkins indicated a shift in the SEC’s approach, moving away from primarily enforcement-based policymaking to providing clearer regulatory guidance. He highlighted that this will encompass rules for digital tokens, custody solutions, and crypto trading platforms. He stated that policy decisions would no longer rely on reactive enforcement actions, but rather a proactive approach to enable a “golden age” for financial innovation within the United States.
Atkins clarified that most digital tokens should not be classified as securities and pledged to create clear, objective rules for determining when crypto assets fall under SEC jurisdiction. He stressed that entrepreneurs must have the ability to raise capital using blockchain technology without facing “endless legal uncertainty.” He also promised to establish a framework for platforms that offer integrated services like trading, lending, and staking under a single licensing structure. Furthermore, custody regulations will be updated to provide investors and financial intermediaries with a variety of secure options.
The former SEC chair explained that Project Crypto is designed to pave the way for tokenized securities, new asset classes built on blockchain technology, and decentralized finance (DeFi) applications, while simultaneously ensuring adequate investor protection measures. He also mentioned the potential of advanced “super-app” trading platforms and emphasized the importance of fostering innovation within the U.S. regulatory environment.
Atkins initially introduced Project Crypto on July 31, 2025, in Washington, D.C., describing it as the SEC’s guiding principle in supporting the goal of making the U.S. the world’s leading crypto hub. His statements in Paris provided more in-depth information on specific aspects like custody, capital formation, and platform regulation.
Atkins’ remarks followed a LinkedIn post by Nasdaq President Tal Cohen two days prior. Cohen wrote that tokenization represents an “extraordinary opportunity” for global financial markets. Cohen noted that Nasdaq had submitted filings to the SEC to enable the trading of tokenized securities, demonstrating the increasing adoption of blockchain technology by major financial institutions.
Beyond the discussion of cryptocurrencies, Atkins also addressed topics such as the listing of foreign companies, accounting standards, and European regulations. He expressed concerns about the concept of “double materiality” in EU reporting requirements. He advocated for stable funding for the International Accounting Standards Board (IASB) and suggested that the SEC might reconsider its 2007 decision to accept International Financial Reporting Standards (IFRS) without reconciliation to U.S. Generally Accepted Accounting Principles (GAAP) if funding challenges persist.
The former SEC chair also underscored the transformative potential of artificial intelligence (AI) in reshaping financial markets. He described the emergence of “agentic finance,” where autonomous AI systems could execute trades, allocate capital, and manage risk at speeds beyond human capabilities, with compliance integrated directly into their code.
He suggested that such systems could lead to faster, more cost-effective markets while making sophisticated investment strategies accessible to a wider range of investors. When combined with blockchain infrastructure, these technologies could empower individuals, enhance competition, and unlock new avenues for growth.
However, Atkins cautioned that regulators must establish “commonsense guardrails” to manage risks without stifling innovation due to excessive caution. He asserted that on-chain capital markets and AI-driven finance are becoming increasingly likely, and that the U.S. must take a leading role to ensure that the next generation of financial innovation develops domestically.
In conclusion, Atkins emphasized the importance of regulators finding the right balance between encouraging innovation and protecting investors. He stated that “crypto’s time has come” and that U.S. markets should be at the forefront of the next wave of financial innovation, rather than being passive observers.