PANews, February 28: According to The Block, former SEC Chair Paul Atkins criticized his predecessor Gary Gensler at a University of Texas event for “failing to adapt to innovation,” stating that the U.S. has “missed a major opportunity” in crypto and is now trying to catch up. Atkins said that since the Trump administration, the SEC has shifted toward a more industry-friendly stance by establishing a dedicated crypto task force, withdrawing multiple enforcement actions against major institutions, and launching “Project Crypto” to update regulations. He emphasized the potential of distributed ledger technology in payment clearing and settlement, and revealed that the SEC has approved WisdomTree’s 24/7 settlement tokenized money market fund, with further initiatives to advance tokenized bank deposits forthcoming.
SEC Chair Criticizes Previous Leadership for Missing Crypto Opportunities, Accelerates Regulatory and Tokenization Efforts
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Summary
SEC Chair Paul Atkins criticized former leader Gary Gensler for missing crypto opportunities and stifling innovation. He highlighted a new, proactive approach under the Trump administration, including a crypto task force, suspended enforcement actions, and Project Crypto to modernize regulations. Atkins underscored blockchain’s role in enhancing payment and settlement efficiency, noting the SEC’s approval of WisdomTree’s 24/7 tokenized money market fund. The agency plans to expand tokenization efforts, focusing on boosting liquidity and crypto markets while aligning with CFTC objectives.
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