During a recent event in Washington, D.C., U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins acknowledged that the United States is “probably 10 years behind” in cryptocurrency and said addressing this gap is a top priority for the regulator.
Speaking at DC Fintech Week on Wednesday, Atkins emphasized, “The crypto aspect is our job one.” He outlined the SEC’s goal to establish a strong regulatory framework that can attract innovators back to the U.S. and support the growth of new technologies. “I like to say that we’re the securities and innovation commission now,” he quipped.
Exemptions to Encourage Innovation
Atkins highlighted that developing crypto regulations is part of the SEC’s broader mission to embrace innovation. He hinted at the possibility of an “innovation exemption” to enable experimentation with new ideas. “We at the SEC have pretty broad authority to grant exemptions, and I think we can be very forward-leaning to accommodate new ideas,” he said.
Support for Superapps
Atkins also spoke positively about “superapps,” integrated financial platforms that combine payments, investments, and other services in one interface. Largely inspired by Chinese platforms like WeChat, these apps have yet to emerge in the West. Atkins suggested that U.S. regulatory support could help accelerate their development. In September, he expressed support for platforms offering multiple financial services under a single regulatory framework.
He added that “thinking about regulatory coordination as an app in and of itself is very clever,” noting it could serve as a way to align different agencies. While he did not provide details on how the SEC might implement such coordination, he stressed the agency’s commitment to making the U.S. a hub for crypto innovation, rather than an afterthought.
