Overview
- SEC Chair Paul Atkins used his first‑anniversary keynote to unveil a reset of crypto policy built on a five‑bucket token framework and a new path for tokenized assets.
- The innovation exemption lets qualified firms issue and trade tokenized stocks, bonds, and other assets on a blockchain for 12 to 36 months under lighter rules before they must show sufficient decentralization or enter the full securities regime.
- The agency formalized coordination with the Commodity Futures Trading Commission through a memorandum of understanding that commits both regulators to joint interpretations and aligned rulemaking.
- The SEC expanded Project Crypto to update clearing, margin, and collateral rules so on‑chain trades can fit existing market plumbing rather than sit in a legal gray zone.
- Regulators are also scrutinizing fast‑growing prediction markets such as Polymarket and Kalshi, and Atkins said the SEC, the CFTC, and the DOJ are examining trades placed before public comments by President Donald Trump.