SEC Chairman Paul Atkins Wants ‘Innovation Exemption’ By Year-End To Fast-Track Cypto Products

Securities Exchange Commission (SEC) Chairman Paul Atkins wants an “Innovation Exemption” by year-end to fast-track approval of new crypto products.

The exemption would allow crypto firms to launch products more quickly, enabling them to circumvent older regulations written for traditional markets.

Atkins said in an interview with Fox Business that the agency is working closely with both the House and Senate to provide technical support on securities laws and address existing gaps in oversight.

The move by the regulator reflects a broader effort to modernize oversight and make US markets more competitive for emerging technology.

“We want to see this get over the finish line,” Atkins said, referencing recent progress in Congress.

He pointed to the passage of the GENIUS Act earlier this year, which gave statutory recognition to stablecoins, as evidence of growing momentum.

SEC Aims To Streamline Crypto Market Entry

The SEC intends to strike a balance between oversight and innovation as it allows specific crypto projects to bypass regulatory requirements that do not apply to digital assets, according to a Bloomberg report.  

As a result, startups and smaller firms would be able to enter the market faster, reducing compliance costs and encouraging growth.

According to Atkins, the new listing standards are another example of how the industry can move forward.

“It’s not just an ad hoc type of approach,” he said. ”We’re trying to give the marketplace some stable platform upon which they can introduce new products.”

The shift marks a departure from the Biden-era SEC under Gary Gensler, which pursued an aggressive regulation-by-enforcement strategy against crypto firms despite regulations being unclear.

Beyond crypto, Atkins pushed for a revival of the US IPO market, noting that the number of public companies has fallen by half over the last three decades.

“I want to make IPOs great again,” he said, underscoring his broader agenda to revitalize public markets.

By easing regulatory requirements and providing clear frameworks, Atkins hopes to stimulate market activity, attract investment, and foster economic growth.