SEC’s Paul Atkins says America must lead the crypto asset revolution

In a new statement, SEC Chairman Paul S. Atkins endorsed the PWG’s crypto policy proposals, describing them as the product of sustained inter-agency efforts and a critical step toward regulatory clarity.

He emphasized that their efforts align with President Trump’s goal to make the United States the center of the global crypto economy.

SEC’s Atkins says the PWG report will drive innovation and protect investors

According to Atkins, the PWG report provides a balanced framework for digital asset oversight that encourages innovation, protects investors, and maintains the world-class standing of America’s financial markets.

He explained that the framework would preserve market stability, encourage secure adoption, and enhance investor safeguards. He added that the SEC will continue to exercise its existing authority to create new rules and enforce any legislation passed by Congress. 

Atkins also acknowledged President Trump for his proactive stance on crypto, which was something he had seen was missing in the past administration. He commented, “Thank goodness President Trump does and is leading on it.”

He also supported his colleagues, saying he would work with Commissioner Hester Peirce and the SEC’s Crypto Task Force to foster the crypto vision.

The PWG report urges closer coordination between the SEC, CFTC, and other key federal agencies to establish a unified, transparent, and consistent regulatory approach. In line with the report’s recommendations, Atkins stated that they will develop innovative and durable regulatory policies that encourage growth in the sector and address potential risks. 

He noted that the US still needs to step up its efforts to stay ahead in the crypto revolution, saying he’s ready to do his part of the work.

The Trump administration had asked regulators to act on the report’s recommendations

On Wednesday, the Trump administration urged federal regulators to implement the report’s recommendations. In a fact sheet, the White House commented on the PWG report, saying, “By implementing these recommendations, policymakers can ensure that the United States leads the blockchain revolution and ushers in the Golden Age of Crypto.” 

It added that the report calls for the SEC and CFTC to act within their authority to facilitate federal-level trading of digital assets by setting clear rules on registration, custody, trading, and recordkeeping.

Additionally, per the fact sheet, the report requires regulators to ensure that new financial products can reach the market swiftly, without being held up by red tape. The report also pushes that the agencies clarify which bank functions are allowed in terms of stablecoins and blockchain technology, and for them to enhance disclosure around the process for obtaining bank charters.

These recommendations come on the heels of President Trump signing the first-ever congressional legislation regulating stablecoins, a move hailed as a major victory for the crypto sector. The law outlines a framework for US dollar-backed stablecoins, which proponents say will encourage broader adoption of digital assets in mainstream finance, despite controversial views. 

Some lawmakers criticized the stablecoin framework, believing the president still has conflicts of interest. Trump and his family have affiliations with digital asset businesses, such as World Liberty Financial, a platform that has launched its token and stablecoin.