U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins has declared that “crypto’s time has come,” setting out his vision for a new era of digital finance. Speaking at the Organisation for Economic Co-operation and Development’s (OECD) inaugural Roundtable on Global Financial Markets in Paris on 10 September, Atkins announced major reforms designed to modernise U.S. securities laws and bring capital markets on-chain.
For years, crypto regulation in the United States has been shaped by high-profile enforcement cases, leaving companies and investors uncertain about how digital assets fit into the existing rulebook. Atkins promised a decisive break from that approach. “Policy will no longer be set by ad hoc enforcement actions,” he said, signalling the start of a more collaborative regulatory era.
The centrepiece of his remarks was Project Crypto, a long-term initiative the SEC first unveiled in July. Atkins described it as the agency’s “north star” in reshaping financial markets for blockchain-based innovation, while ensuring investor protections remain intact.
Project Crypto: Tokenisation, Custody and Unified Platforms
Atkins said Project Crypto will provide bright-line rules to distinguish which digital assets are securities and which are not. The goal, he argued, is to allow entrepreneurs to raise capital on-chain without “endless legal uncertainty.”
The SEC will issue a framework for platforms that integrate trading, lending and staking under a single licence. Custody rules will also be modernised, with investors and intermediaries given multiple options for securely holding digital assets.
Beyond compliance, Atkins sees Project Crypto as clearing the way for tokenised securities, new on-chain asset classes and the growth of decentralised finance. “This is about enabling a golden age of financial innovation on U.S. soil,” he said.
The project also envisions “super-app” trading platforms, capable of combining multiple financial services in one interface. Atkins stressed that the United States must take the lead in such developments to prevent losing ground to overseas competitors.
Global Shifts: Tokenisation and Institutional Adoption
Atkins’ speech came just days after Nasdaq President Tal Cohen called tokenisation an “extraordinary opportunity” for global markets. In a LinkedIn post, Cohen revealed that Nasdaq had filed with the SEC to enable the trading of tokenised securities, signalling how major institutions are already aligning with this trend.
Tokenisation, the process of creating digital representations of real-world assets is rapidly gaining traction. By bringing assets like equities, bonds and funds onto blockchains, institutions aim to unlock faster settlement, lower costs and more efficient global access.
Atkins’ comments suggest that the SEC now recognises this shift and intends to provide regulatory clarity to encourage adoption. His emphasis on cooperation with global regulators at the OECD roundtable highlighted that tokenisation is not just a U.S. issue but a worldwide transformation of capital markets.
The Rise of Agentic Finance
Alongside tokenisation, Atkins spotlighted artificial intelligence as another force set to reshape finance. He described the coming era of “agentic finance,” where autonomous AI systems will be able to execute trades, allocate capital and manage risk at speeds no human can match.
Unlike today’s fragmented processes, these AI-driven systems could embed compliance directly into their code, ensuring rules are met in real time. The benefits, Atkins argued, include faster, cheaper and more competitive markets, as well as opening sophisticated investment strategies to a wider pool of investors.
Paired with blockchain infrastructure, such systems could create highly efficient, inclusive markets. Atkins emphasised, however, that “commonsense guardrails” are essential to manage risks without stifling innovation.
Beyond Crypto: Broader Market Reforms
Atkins also touched on several issues beyond digital assets. He raised concerns about the European Union’s “double materiality” requirements in corporate reporting, warning they could create unnecessary burdens. He also urged stable funding for the International Accounting Standards Board (IASB), noting that the SEC may reconsider its 2007 decision to allow IFRS without reconciliation to U.S. GAAP if problems persist.
These broader remarks reinforced the SEC chair’s message: financial regulation must adapt to global realities while maintaining investor trust.
A Defining Moment
Atkins closed his Paris speech with a clear message: the United States must lead in shaping the future of finance. “Crypto’s time has come,” he declared, urging regulators to embrace on-chain capital markets and AI-powered innovation instead of resisting them.
The speech represents a significant shift in tone for the SEC, long seen as hostile to digital assets. If the promises outlined in Project Crypto translate into concrete policy, the U.S. could soon become a more attractive hub for blockchain innovation, reversing years of regulatory uncertainty.
For investors, entrepreneurs and institutions, the next chapter of finance may be defined by tokenisation, AI and on-chain capital markets with the SEC positioning itself not as an obstacle, but as a guide.
