outlined<\/a> plans for a new \u201cinnovation exemption\u201d that would provide conditional relief from certain regulatory requirements.<\/p>\nWhile broader regulatory changes remain under development, the exemptions would provide a temporary structure to support the safe deployment of onchain services.<\/p>\n
Atkins said the exemptions would be designed to support firms that are willing to meet specified conditions while developing blockchain-based systems. These measures, he noted, would allow for responsible innovation within the boundaries of investor protection and market integrity.<\/p>\n
He also revealed that SEC staff have been directed to evaluate whether additional guidance or rule changes may be needed to help registrants interact with self-executing software systems in compliance with securities laws.<\/p>\n
\u201cThese on-chain self-executing software systems have proven to be resilient in the face of crises,\u201d he said, contrasting them with centralized platforms that have failed under recent stress.\u00a0<\/p>\n
\u201cMany on-chain systems continued to operate as designed pursuant to open-source code.\u201d<\/p>\n
<\/p>\n
Atkins emphasised that most securities regulations were built around traditional intermediaries such as broker-dealers and exchanges.<\/p>\n
\u201cThe drafters of these rules and regulations likely did not contemplate that self-executing software code might displace such issuers and intermediaries,\u201d he noted, calling for regulatory flexibility to accommodate these new models.<\/p>\n
Atkins, appointed earlier this year as part of President Trump\u2019s push to establish the U.S. as a global leader in crypto innovation, has called for a \u201crational regulatory framework\u201d that balances innovation with investor protection.<\/p>\n
In contrast to his predecessor\u2019s approach, Atkins is steering the SEC toward inclusive policymaking that recognises the operational differences between traditional financial intermediaries and decentralised systems.\u00a0<\/p>\n
Since taking office, he has repeatedly stressed the need for structured, participatory rulemaking that reflects the unique characteristics of blockchain systems and crypto assets.<\/p>\n
The SEC\u2019s Crypto Task Force, led by Commissioner Hester Peirce, is expected to release its first policy report in the coming months. The report will contribute to a regulatory foundation that Atkins says is urgently needed to support the growth of onchain technologies and provide long-awaited clarity for market participants.<\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
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