SEC Chairman Atkins said on-chain financing should “no endless legal uncertainty”

According to Coinjie.com, in a keynote speech delivered by the Securities and Exchange Commission (SEC) to the Organization for Economic Cooperation and Development, new chairman Paul Atkins reiterated that "most crypto tokens are not securities" as the institution continues to draft guidelines in favor of the industry. Most notably, Atkins said entrepreneurs and investors should be able to raise funds on-chain “without falling into endless legal uncertainty” and pave the way for an “super app” trading platform that adds “market participants’ choice.” “The same priorities prompt us to unlock the potential of digital assets in the U.S. when we call on our partners to develop investor confidence and dynamic markets within their jurisdiction,” Atkins said. In what Atkins calls “Project Crypto,” the SEC is working to “modern securities rules and regulations so that our market can run on the chain” as part of President Donald Trump’s efforts to turn the United States into the “crypto capital of the world.” This includes providing clearer guidelines on the “security status of crypto assets” and opening the door to trading platforms to provide transactions, lending and staking services “under a single regulatory framework,” Atkins said. This move comes as Trump's second term has undergone a huge change in the way the United States regulates cryptocurrencies. This summer, lawmakers were able to pass the first important cryptocurrency legislation on stablecoins, and have since made progress on the Market Structure Act, Clarity, which partly would establish the SEC or Commodity Futures Trading Commission for market oversight. Atkins noted that the former administration under former President Biden launched an invalid campaign against cryptocurrencies, hindering the industry’s growth. “The SEC has long used its investigation, subpoena and law enforcement powers to disrupt the cryptocurrency industry,” Atkins said. “This approach is not only ineffective, but harmful; it pushes employment, innovation, and capital overseas. American entrepreneurs are the first to be hit – and are forced to spend huge amounts of money to establish legal defenses rather than conduct business. This chapter is history.” “I think regulators should provide regulation at the lowest effective doses needed to protect investors, and that’s all,” he added, praising the work done by the Crypto Working Group, led by SEC Commissioner Hester Pierce, which is working to clarify rules for cryptocurrency participants, including in the areas of tokenization and staking. “Our goal is simple: to spark a golden age of financial innovation in the U.S.,” Atkins said. “Whether through tokenized stock books or brand new asset classes, we hope to make breakthroughs in the interests of American investors in the U.S. market, under U.S. supervision.” The SEC and the Commodity Futures Trading Commission recently announced a roundtable meeting on September 29, where they will discuss bringing “innovative products” such as perpetual contracts and DeFi back to the U.S.