Key Takeaways
- SEC’s Atkins said the agency is working with Congress by providing technical assistance on crypto legislation.
- The SEC plans to introduce an “innovation exemption” for crypto-related activities within the next month.
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SEC Chair Paul Atkins on Tuesday said that the agency is working on an innovation exemption for crypto, expected to be released in the coming weeks.
The plan aims to help the US embrace crypto innovation after years of regulatory pushback. The timeline was delayed somewhat by the recent government shutdown.
Atkins also noted that the SEC is providing technical assistance to Congress on related legislation.
“I’m looking forward to having an innovation exemption that we’ve been talking about now. We’ll be able to get that out in a month or so, is what I’m hoping,” said Atkins in a morning interview with CNBC’s ‘Squawk Box’.
“We were impeded a bit by the government shutdown,” he added. “We couldn’t work on things during that time, but we’re on track, and we will be able to forge forward with a crypto area and make sure that we are able to embrace this new area of innovation that for too long, the United States basically has just pushed back against.”
The exemption may allow crypto firms to launch on-chain products more easily, aligning with broader efforts to position the US as a blockchain hub. The SEC is formalizing the regulatory framework as part of advancing reforms for digital assets.
However, major stock exchanges have expressed concerns to the SEC about loosening rules for crypto platforms, particularly amid the rise of tokenized stocks and expanded global trading access.
