SEC’s Paul Atkins Declares Crypto’s Time Has Come — Big Changes Ahead

On September 10, 2025, at the first OECD Roundtable on Global Financial Markets in Paris, U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins made a bold declaration,  “Crypto’s time has come.” This moment marked a dramatic shift in tone from years of heavy enforcement and uncertainty. Instead of focusing mainly on lawsuits and fines, the SEC under Atkins is launching “Project Crypto,” a plan to give digital assets clear and predictable rules.

The idea is simple but powerful. Instead of driving innovators abroad, the SEC wants to make the United States the best place to build crypto projects. That means better-defined laws, new opportunities for businesses, and a chance for investors to feel more confident in a space that has often felt risky and confusing.

At the heart of Project Crypto is clarity. For years, one of the biggest debates in the industry has been whether most cryptocurrencies should be considered securities, like stocks, or something else entirely. The uncertainty has led to lawsuits, penalties, and many companies moving overseas to avoid U.S. regulators. Project Crypto aims to settle the debate by establishing that most tokens will not be treated as securities. This shift could open the door for developers to raise money directly on blockchain platforms without worrying about retroactive punishments. The plan also includes support for “super-apps” that combine trading, lending, and staking in one place under a unified regulatory system.

Another key piece is custody. Right now, many investors are hesitant to enter crypto markets because storing digital assets safely is complex. Project Crypto would expand custody options, making it easier for individuals, financial advisers, and institutions to hold tokens securely. Atkins’ speech also emphasized working with other U.S. agencies like the Commodity Futures Trading Commission (CFTC) and drawing inspiration from Europe’s Markets in Crypto-Assets (MiCA) law. Instead of competing with other regions, the U.S. is seeking to align with them, giving both companies and investors consistent rules across borders. This is a notable shift from the past, when U.S. regulators often worked in isolation. By signaling international cooperation, Atkins is showing that crypto is no longer a niche experiment it is part of the future of global financial markets.

One of the most concrete announcements in Paris was the creation of an SEC Crypto Task Force, expected to launch by October 2025. This group will focus on drafting detailed rules for areas like tokenized securities and decentralized finance (DeFi). The stakes are high. Analysts predict that tokenizing real-world assets such as stocks, bonds, or real estate could unlock $10 trillion by 2030. If the U.S. can provide a clear and welcoming regulatory environment, it may capture a large share of that growth.

Atkins’ approach stands in stark contrast to that of his predecessor, Gary Gensler. Under Gensler, the SEC imposed more than $2 billion in fines on crypto firms, often through enforcement actions that critics said lacked clarity. Many startups relocated to friendlier markets like Singapore and Dubai. Now, with Project Crypto, the SEC is shifting focus from punishment to partnership. This could be the start of what Atkins called a “golden age of financial innovation.” On-chain securities trading, programmable money, and super-app platforms could all become mainstream if the regulatory framework supports them.

Looking Ahead

The world of decentralized finance is already massive, with total value locked nearing $200 billion. Tokenized investment funds are expected to reach $16 trillion by the end of the decade. By embracing this shift, the U.S. could re-establish itself as the center of digital asset development. As Atkins reminded his audience by quoting Victor Hugo, “We cannot resist an idea whose time has come.” For crypto, that time may finally be here.