SEC Chair Atkins advances Trump’s pro-crypto efforts, promising first market rules

The head of the Securities and Exchange Commission (SEC) promised a new set of rules around cryptocurrency assets, saying his team intends to lay out regulatory frameworks around custody and “qualified custodians,” as well as guidelines around issuing and trading. The expected move marks the latest step in the U.S. government’s embrace of cryptocurrencies under President Donald Trump, representing a significant shift from his predecessor.

Giving a keynote speech at the SEC’s crypto task force roundtable, Atkins repeated Trump’s earlier promises to make the U.S. into the ”crypto capital of the planet” while also discouraging “bad actors from violating the law.”

”It is a new day at the SEC,” he said in prepared remarks at the SEC’s May 12 event. ”The Commission will utilize its existing rulemaking, interpretive, and exemptive authorities to set fit-for-purpose standards for market participants. The Commission’s enforcement approach will return to Congress’ original intent, which is to police violations of these established obligations, particularly as they relate to fraud and manipulation.”