Catenaa, Wednesday, May 21, 2025 – Securities and Exchange Commission (SEC) Paul Atkins Chairman has unveiled a sweeping pro-innovation agenda at the SEC Speaks conference, promising a decisive break from the agency’s past approach to emerging technologies, especially cryptocurrencies.((sec.gov: https://www.sec.gov/newsroom/speeches-statements/atkins-prepared-remarks-sec-speaks-051925))
In his first address as Chairman at the annual event, he acknowledged the agency’s historical resistance to innovation, citing decades of missed opportunities and regulatory delays.
He declared that the SEC will now “champion innovation,” with a priority on crypto market integration and private fund accessibility.
He criticized the SEC’s past “head-in-the-sand” and “regulation-through-enforcement” stance on digital assets, arguing it created a culture of distrust.
He announced new transparency directives for staff and plans to draft formal crypto-related rule proposals. He also said the agency will consider allowing SEC registrants to custody and trade both securities and non-securities, calling it a first step toward a potential “super-app” for finance.
In a move signaling the end of a siloed approach to financial tech, the SEC will dissolve its FinHub office and integrate its functions agency-wide, citing its inefficiency and poor perception among crypto stakeholders.
He also pledged to revisit long-standing restrictions on closed-end funds investing in private markets, which currently limit retail investor access. Additionally, he ordered a full review of the controversial Consolidated Audit Trail project, citing ballooning costs and privacy risks.
Calling it “a new day at the SEC,” the Chairman said innovation will be embedded across the Commission’s culture and policy planning.
