Paul Atkins at the helm of the SEC: a pro-crypto turning point for the US regulator

The appointment of Paul Atkins as Chair of the SEC marks a clear break with the policy of his predecessor, Gary Gensler.

From his very first public statements, Atkins has signalled a clear commitment to change: *promoting innovation in the cryptocurrency sector and adopting a more conciliatory approach.* A strategic shift that could redefine the regulation of the crypto market in the United States.

In a speech delivered on 19 May 2025, Paul Atkins described the start of his mandate as a "new day" for crypto. He stressed the need for the SEC to "adapt and accommodate" the rapid developments in this sector. Breaking with the hardline approach taken so far, Atkins wants to return to the Commission's "roots": *fostering innovation, rather than stifling it.*

This stance has already yielded concrete results. The new Chair has ended several landmark lawsuits targeting crypto giants such as Ripple Labs, Coinbase and PayPal, demonstrating his willingness to defuse tensions between the SEC and the blockchain ecosystem (SEC.gov)

Despite this openness, cryptocurrency regulation remains in a grey area.

The main obstacle: persistent uncertainty over the division of responsibilities between the SEC and the Commodity Futures Trading Commission (CFTC).

These two agencies have been vying for years over the supervision of the crypto market, fuelling legal uncertainty for industry players.

Atkins announced that SEC legal departments are already working on new regulatory proposals specific to cryptocurrencies. However, without legislative clarification, these efforts *risk remaining incomplete*.

A bill currently under consideration in Congress specifically aims to define the respective roles of the two regulators. (Congress.gov)

The reforms driven by Paul Atkins could make the United States a more attractive jurisdiction for blockchain companies. While Europe is still struggling to implement the MiCA (Markets in Crypto-Assets) framework, the US appears keen to steal a march by lightening its regulatory approach.

This political drive to reignite innovation while establishing clearer rules places the country at a pivotal moment: if it manages to resolve the current regulatory uncertainty, the US market could once again become a major hub for the crypto industry