SEC Chair Vows to Make America Crypto Capital

In an interview with Fox Business this morning, Securities and Exchange Commission (SEC) Chair Paul Atkins stated that he is mobilizing the entire agency to "make America the crypto capital of the world."

What’s the Scoop?

• SEC Mobilization: Atkins is “mobilizing” all SEC divisions and offices to implement President Trump’s crypto working group recommendations, which aim to make the U.S. more crypto-friendly.
• Custody Rules Update: The agency is examining and modernizing custody regulations for digital assets by clarifying how financial institutions and advisers can securely handle crypto transactions.
• Regulatory Clarity: Atkins stressed that changes will comply with newly created laws, like the GENIUS Act, but indicated that the SEC already has authority to provide “certainty and clarity” to market participants.
• Blockchain Payments Potential: He also noted that instant payment networks (potentially supported by blockchain) could improve settlement speed, though safeguards may be needed to address transaction errors and systemic risk.

Bankless Take:

President Trump has espoused pro-crypto policy throughout his second term in office. The SEC's renewed commitment to make America the crypto capital of the world speaks to its alignment with the Administration and could help the largest economy in the world transition onto modern blockchain-based financial rails.