- The SEC will replace enforcement-driven actions with predictable rules covering tokens, custody, and integrated trading platforms.
- Project Crypto supports tokenized securities, super-app platforms, and on-chain capital formation under one regulatory framework.
- Atkins emphasized “agentic finance,” where AI systems manage trades and risk with compliance built directly into blockchain systems.
U.S. Securities and Exchange Commission Chair Paul Atkins said digital assets will soon operate under updated rules. Speaking on September 10 at the OECD’s Roundtable on Global Financial Markets in Paris, Atkins presented an expanded agenda for Project Crypto. He described a shift from enforcement-driven actions to predictable frameworks that cover tokens, custody, and trading platforms.
Atkins said most tokens do not qualify as securities. He committed to bright-line standards for determining regulatory oversight. He added that entrepreneurs should raise capital on-chain without facing uncertain interpretations.
Custody, Staking, and Super-App Platforms
The SEC plans to modernize custody rules, providing investors and intermediaries with multiple compliant options. Atkins also confirmed a framework for platforms combining trading, lending, and staking under one license. He said this model could allow integrated operations while maintaining investor protection.
The chair added that Project Crypto would support tokenized securities and new on-chain asset classes. He said decentralized finance software and “super-app” platforms could also fit within the updated system.
Institutional and Global Context
Atkins’ remarks followed Nasdaq President Tal Cohen’s LinkedIn statement on tokenization. Cohen called tokenized securities an extraordinary opportunity and confirmed Nasdaq had filed with the SEC to enable trading. The timing underscored broader institutional interest in blockchain adoption.
Atkins first introduced Project Crypto on July 31 in Washington. He called it the SEC’s north star and tied it to President Donald Trump’s stated ambition to make the U.S. a global crypto hub. His Paris speech expanded on custody, platform rules, and capital formation measures.
Regulatory Balance and International Issues
Beyond crypto, Atkins addressed wider policy questions. He raised concerns about double materiality requirements in European Union reporting laws. He also called for stable funding for the International Accounting Standards Board.
He noted the SEC could revisit its 2007 decision to allow IFRS without U.S. GAAP reconciliation if funding concerns persist. Atkins concluded that regulators must balance innovation with investor safeguards. He said America must lead in on-chain markets rather than watching innovation move abroad.
Atkins also spoke on artificial intelligence. He described “agentic finance,” where autonomous AI systems execute trades and manage risk. He said such systems could increase speed, reduce costs, and expand access to advanced strategies. With blockchain integration, he said compliance could be embedded in code, ensuring oversight without halting innovation.
