The U.S. Securities and Exchange Commission (SEC) has recently put forward proposals for regulatory changes that, according to the chairman, will help clarify the legal framework for crypto assets and provide clearer guidance for the market. This is part of the SEC's annual agenda.
In a statement on Tuesday, SEC Chairman Paul Atkins clarified that the 2026 agenda is aligned with the Trump administration's policy goals regarding cryptocurrency. This included clarifying tokenized securities and the capital raising process involving digital assets. The agenda contained three proposed amendment rules relating to crypto broker-dealers, digital assets on alternative trading systems, and national securities exchanges, as well as potential exceptions and safe havens for digital assets.
According to the SEC, the proposed rules can provide greater certainty in the market, facilitate capital formation, and support innovation within the crypto markets, while also ensuring investor protection. “Investors must receive sufficient information to make informed decisions,” says the SEC regarding one of the proposals concerning the offering and sale of crypto assets.
The timing of these proposals coincides with the debate in the U.S. Congress regarding provisions in legislation concerning the structure of the crypto market. This legislation could shift responsibilities for oversight and enforcement from the SEC to the Commodity Futures Trading Commission (CFTC). In March, Atkins indicated that the SEC would make progress on a “bridge” to clarify crypto regulations, but he also signaled that he is willing to await legislation that might be approved by Congress.
Critics of SEC policy under the leadership of Donald Trump and Atkins accuse the administration of a “pay-to-play” structure. Democratic members of Congress pointed out in a January letter that Trump and his allies have financially profited from companies that were previously subject to enforcement actions or potential regulatory issues, including Binance, Coinbase, Ripple Labs, and Kraken:, whose cases were later withdrawn.
“The SEC’s decision to let those who violate securities laws go without consequences, coupled with recent statements by Chairman Atkins that ‘most crypto tokens are not securities,’ despite rulings by federal courts that at least some tokens must be classified as securities, has created a vacuum in which securities law violations by crypto companies are not enforced and American investors are not protected,” three Democratic members of the House stated in a letter to Atkins.
During a press conference on Monday, Trump indicated that he had gotten involved in crypto “a bit for politics.” After his first term, he mentioned Bitcoin (BTC) a “scam”. Initially, he was “not a fan” of cryptocurrencies, but as the 2024 elections approached, he began communicating with industry leaders and publicly promoting the technology.
How do the proposed rules affect the crypto market?
The SEC's proposals can create a clear structure that supports the growth of the crypto market, while also ensuring the necessary protection for investors. This can lead to greater investment interest and innovation within the sector.
What are the implications of the shift of supervision to the CFTC?
A shift of supervision to the CFTC could result in a different approach to regulation, possibly with a focus on derivatives and futures of crypto assets. This means accelerated development of instruments such as futures, but also a new challenge for investor protection.
What does Trump's changing attitude say about crypto?
Trump's shift in discourse surrounding crypto highlights the increasing attention on the sector, especially with the upcoming elections. It also demonstrates the complexity of the politics surrounding digital assets and the influence this can have on future policymaking.
