SEC Chair Paul Atkins Marks One Year, Signals Pro-Crypto Shift

• SEC Chair Paul Atkins marked a year by ringing the NYSE opening bell on April 20.
• The SEC has shifted from enforcement-led crypto policy to clearer rules under Atkins.
• Atkins launched the ACT plan, focused on regulatory clarity and reviving the US IPO markets.

The US Securities and Exchange Commission Chair, Paul Atkins, marked one year in office by ringing the opening bell at the New York Stock Exchange on April 20.

The event was more than symbolic, a clear message that the SEC intends to keep moving away from the prior enforcement-heavy model and toward rule clarity, market growth, and support for crypto innovation.

Meanwhile, US markets opened lower Monday morning as tensions between the US and Iran increased over the weekend. Even with risk sentiment weak, the SEC used the NYSE stage to highlight policy direction and investor confidence.

One Year In, SEC Pushes New Direction

Atkins was sworn in as the SEC’s 34th chairman on April 21, 2025. He was nominated by President Donald Trump on Jan. 20, 2025, and confirmed by the Senate on April 9.

He previously served as SEC commissioner from 2002 to 2008. His return has brought a faster shift in digital asset policy than many expected.

Atkins said his first year was “historic” and repeated that he promised “a new day” at the SEC. His stated focus remains on three core areas, including investor protection, orderly markets, and capital formation.

Crypto Policy Turns From Enforcement to Rules

During the past 12 months, the SEC has backed a more industry-friendly crypto stance. The agency created a crypto task force led by Commissioner Hester Peirce.

It also dropped multiple civil enforcement cases and investigations against crypto firms, beginning with Coinbase in February 2025. 

The SEC also approved multiple exchange-traded funds tied to crypto assets, signed a coordination agreement with the Commodity Futures Trading Commission, and issued guidance indicating that most cryptocurrencies would not be treated as securities under federal law.

CFTC Chair Mike Selig said the SEC had ended “regulation by enforcement” and was supporting technologies like crypto.

On the other hand, Ripple’s Brad Garlinghouse called Atkins “a breath of fresh air and sanity” and a role model of what regulatory leadership looks like.

The ACT Plan and IPO Push

Atkins formally outlined a three-part strategy on April 20 called ACT: Advance, Clarify, and Transform.

Advance means updating rules to fit new technology. Clarify means clearer lines between securities and commodities, especially for tokenized assets, while transform means rewriting outdated market rules.

A major target is the IPO market. Atkins said the number of public companies in the US has been cut in half over the last 30 years. He blamed three main barriers, i.e., high disclosure costs, excessive litigation risk, and politicized shareholder activism.

If those costs fall, more private firms may choose public listings, meaning more equity supply, more fee flow for exchanges, and broader access for investors.

Related: “Very Few Tokens Are Securities”: SEC Chair Paul Atkins Makes His Stance Clear