- Paul Atkins pushes for year-end exemption, creating stability for crypto product development.
- The Agency introduces Project Crypto to lower compliance costs and integrate digital assets.
- Parallel legislative efforts in Congress aim to set clear crypto regulatory guardrails.
US Securities and Exchange Commission (SEC) Chair Paul Atkins has confirmed plans to implement an “innovation exemption” for digital assets by the end of the year, marking another step in his rapid drive to make US crypto regulation more flexible. Speaking on Fox Business’ Mornings with Maria programme on Tuesday, Atkins confirmed that several pending crypto rulemakings should also be completed “in the coming months”.
Since becoming Chair in April, Atkins has introduced a series of pro-crypto measures, most notably Project Crypto, an initiative aimed at easing compliance costs while modernising rules for the digital economy.
Among its features are potential exemptions from securities laws for certain transactions and protections for token categories such as initial coin offerings, airdrops, and network rewards. However, the exact exemptions that might be enacted by December remain uncertain.
Related: US and UK Launch Transatlantic Task Force on Digital Assets
Rulemaking Challenges Ahead
Atkins said that the regulator wanted to establish a stable platform for crypto businesses to roll out new products and confirmed his intention to put the exemption in place before the year’s end. Despite this target, he acknowledged that formal rulemaking typically requires several stages, public consultation, and time to complete.
In parallel, the SEC recently approved generic listing standards for commodity-based trusts across exchanges including Nasdaq, Cboe BZX, and NYSE Arca, enabling products linked to assets such as cryptocurrencies to list without individual approval from the Commission. This move is expected to ease entry for exchange-traded products, though leveraged and inverse structures remain excluded.
Meanwhile, Congress is pursuing broader legislation to define the boundaries of securities and commodities oversight in the digital asset sector. Both the House and Senate are developing separate versions of a crypto market structure bill, which supporters hope to advance in late October. Atkins said he welcomed congressional action but added that the SEC could continue shaping rules independently of lawmakers.
The Chair also stressed cooperation with the Commodity Futures Trading Commission, confirming that the two agencies are working closely together and will host a joint roundtable on innovative financial products next week.
Related: US Commodities Regulator Mulling Enforcement Action Against Co-Founder of Bankrupt Crypto Lender Voyager: Report
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