SEC chair to foster crypto super-apps, calls for minimal regulation

U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins reiterated his view that most cryptocurrency tokens are not securities, stating that the agency is moving beyond its past to embrace a new era. In a keynote address at an Organisation for Economic Co-operation and Development (OECD) roundtable in Paris, Atkins said the SEC will shift from its previous enforcement-heavy approach to providing clear guidelines that allow innovators to succeed in the United States. He explained that the agency plans to help platforms develop into super-apps that support digital asset trading, lending, and staking under a consistent regulatory framework. Atkins stressed that regulators should impose only the minimum rules necessary for investor protection, adding that regulations affordable only by large corporations are no longer appropriate. Atkins also spoke positively of Europe's Markets in Crypto-Assets (MiCA) regulation, praising the framework as significant for its comprehensive approach. He noted that the U.S. has learned much from Europe's regulatory actions and that international cooperation could expand freedom and prosperity. The remarks come as the SEC and the Commodity Futures Trading Commission (CFTC) announced in a recent joint statement from their chairs that the two agencies will meet on Sept. 29 to establish a framework for crypto regulation.