Institutional vision on migration to blockchain and cryptocurrencies
Paul Atkins, president of the SEC, promotes clear and favorable regulation for blockchain and cryptocurrencies, emphasizing the SEC's authority to act without waiting for new laws.
The approach seeks to delineate which assets fall outside the SEC's jurisdiction, promoting responsible innovation and protecting investors.
Atkins promotes adaptive regulation that includes an exemption for innovation and modernization of frameworks for the issuance, trading and tokenization of assets.
Statements from Paul Atkins, president of the SEC, on blockchain adoption
Atkins says the SEC will advance cryptocurrency regulation with clear rules, seeking to encourage innovation and protect investors.
It recognizes that certain tokens are not securities, which clarifies oversight and facilitates the development of the crypto market with legal certainty.
Regulatory goals and priorities for the next two years
The SEC aims to create a clear and structured regulatory framework that defines tokens, establishes proactive oversight, and facilitates technological innovation.
We are working on regulations that simplify capital formation, promote transparency and address spaces like DeFi with a renewed supervisory approach.
Expected impact on the global financial system according to the SEC
The SEC predicts that blockchain and cryptocurrencies will transform the financial system towards more decentralized and digitalized models, increasing inclusion and efficiency.
Asset tokenization and integration into traditional infrastructures will change financial intermediation, requiring regulation to ensure stability and protection.
SEC regulatory initiatives to ease the transition
The SEC promotes clear regulatory frameworks to digitize assets and facilitate innovation in blockchain. Seeks to balance innovation and protection.
Its approach redefines competencies with the CFTC and proposes legislation to address digital oversight challenges and tokenized assets.
These initiatives promote transparency, legal certainty and specific rules adapted to the crypto ecosystem, encouraging responsible development.
Digital Asset Market Structure Framework and regulatory modernization
This framework defines the SEC's jurisdiction over digital assets considered securities, while the CFTC oversees decentralized digital commodities.
It seeks to harmonize regulation with an innovative approach that facilitates the issuance, trading and reporting of crypto assets under adapted standards.
Specific regulation and supervision measures
The SEC develops rules for custody, issuance and trading of cryptoassets, with a risk-based approach and investor protection.
Implements the Crypto Task Force to establish clear guidelines and monitor innovations such as DeFi and staking, in collaboration with other regulators.
Simplified registration, regulatory sandbox and definition of SEC-CFTC powers
The regulatory sandbox allows controlled testing of blockchain products under fewer obligations, promoting innovation without losing security.
The SEC regulates securities and the CFTC oversees derivatives and commodities; both coordinate to close regulatory gaps in digital assets.
Exemptions and legal frameworks to promote innovation and legal certainty
The SEC is preparing an innovation waiver for 2026 that will facilitate on-chain product launches with temporary regulatory relief.
This framework promotes clear legality and flexibility, seeking a balance between technological development and market and investor protection.
Impact of blockchain adoption on investors and market
Blockchain adoption transforms financial markets, increasing efficiency, reducing costs and improving transparency and security for investors.
Technology eliminates intermediaries and accelerates transactions, thus facilitating financial inclusion and modernization of the global system.
Through tokenization, new investment opportunities and access to assets that were previously illiquid or inaccessible to small investors are created.
Greater legal certainty and transparency for investors
Blockchain provides an immutable and publicly accessible digital record that supports rights through tokens with full legal equivalence, providing trust.
This system guarantees traceability and fraud prevention, reinforcing regulatory compliance and legal security in financial transactions.
Operational efficiency, automation and reduction of intermediaries
Technology allows transactions to be processed faster and with lower costs by eliminating traditional intermediaries that make processes more expensive and slow down.
Smart contracts automate operations, reducing human errors and simplifying workflows in markets and companies.
New financial products and expanded access thanks to tokenization
Tokenization converts real assets into digital ones, facilitating fragmentation, liquidity and participation of small investors in various markets.
Automate payments and create innovative financial products that improve efficiency, transparency and security for investors and users.
Challenges and risks of mass adoption of blockchain in finance
Mass adoption of blockchain faces challenges such as limited ability to process high transactions, which affects efficiency and costs.
Different blockchain networks must overcome the lack of communication with each other, making their integration with existing financial systems difficult.
Ensuring security from attacks while improving speed and decentralization remains a key challenge for the technology.
Scalability, interoperability and technological security
Scalability is critical: classic blockchains support few transactions per second, causing congestion and high fees.
Interoperability between different networks and with traditional financial systems is still limited and requires mature common protocols.
Regulatory fragmentation, infrastructure adaptation and new risk management
Global regulatory fragmentation complicates uniform rules, with differences between the US, EU and Asia making a unified market difficult.
They seek to centralize supervisors, harmonize rules and manage risks such as money laundering, consumer protection and transparency in custody.
Structural transformation of traditional financial markets
Blockchain simplifies financial processes by reducing intermediaries and costs, accelerating settlements and increasing efficiency in post-trade markets.
Tokenization digitizes physical and financial assets, allowing fractional investments, greater liquidity and access to new investors.
Smart contracts automate operations with greater security and transparency, while decentralized finance democratizes financial products.
