Key Takeaways
- SEC Chair Atkins marked a year by ringing the NYSE bell on April 20.
- The SEC has shifted crypto policy that was led by enforcement to clearer rules under Atkins.
- Atkins launched the ACT plan, which focused on regulatory clarity and reviving the IPO markets of the U.S.
The U.S. Securities and Exchange Commission Chair, Paul Atkins, marked one year in office by ringing the opening bell at the New York Stock Exchange on April 20.
The event rang a clear message that the SEC has now focused on clarity of rules, market growth, and support for innovation in cryptocurrency.
Meanwhile, U.S. markets opened lower on the morning of April 20, Monday, as conflict between the U.S. and Iran escalated over the weekend. The SEC banked on the NYSE opening to emphasize change in policy direction and investor confidence.
New Priorities at the SEC after One Year
Atkins became the 34th chairman of the SEC on April 21, 2025. Previously, he was the SEC commissioner from 2002 to 2008. His return to the SEC has brought a faster recalibration in digital asset policy than many have expected.
Atkins said that the first year of his tenure was “historic”, and he reiterated his promise of “a new day” at the SEC. He stated that his focus remains on investor protection, orderly markets, and capital formation.
Policy on Cryptocurrency Shifts from Enforcement to Rules
In the past year, the SEC has taken a more industry-friendly stance on crypto. The organization created a task force for crypto led by Commissioner Hester Peirce.
The SEC also dropped many civil enforcement cases and investigations against cryptocurrency companies, such as Coinbase in February 2025. The agency also approved multiple ETFs (exchange-traded funds) tied to cryptocurrency assets, signed a coordination agreement with the Commodity Futures Trading Commission (CFTC), and issued guidance stating that most cryptocurrencies would not be treated by federal law as securities.
Mike Selig, CFTC chair, said that the SEC had ended “regulation by enforcement” and was supporting technologies like cryptocurrency.
Atkins was also called “a breath of fresh air and sanity” and a role model of what regulatory leadership looks like by Ripple’s Brad Garlinghouse.
The ACT Strategy and IPO Push
SEC Chair Atkins presented a three-part plan on April 20, called Advance, Clarify, and Transform (ACT).
“Advance” stands for updating rules according to new technology. “Clarify” means clearer lines between commodities and securities, especially for tokenized assets. Lastly, “Transform” signifies updating outdated market rules.
Another major target of the SEC is the IPO market. SEC Chair Atkins said the number of public companies in the U.S. has been halved in the last 30 years. Atkins points to three main culprits: high disclosure costs, litigation risk that is excessive, and shareholder activism that has been politicized.
According to Atkins, if the mentioned costs are lowered, many companies will list publicly, which will increase the supply of equity, increase the flow for exchanges, and grant broader access for investors.
