SEC Chairman Paul Atkins has said the agency is currently working on a regulatory waiver to spur crypto innovation in the U.S., with regulatory developments possible by 2026.
The U.S. Securities and Exchange Commission (SEC) is working on creating an “innovation exemption” that could redefine how cryptocurrencies and digital assets are regulated in the country. Agency Chairman Paul Atkins assured that this measure remains as one of their priorities, despite the government shutdown slowing down regulatory processes.
As he explained at an event in New York, the proposal could be formalized between the end of 2025 and the first quarter of 2026, depending on political and administrative developments in Washington.
Trade crypto on Bit2Me: the financial future is digital.To date, Atkins has adopted an openly favorable stance toward the crypto sector, in contrast to the more restrictive line of previous years, when the agency was led by Gary Gensler. During his intervention, Atkins recalled that the industry has faced a period of regulatory repression that pushed many companies to move their operations abroad. However, his goal now is to reverse that trend and provide a legal framework that provides security to developers and entrepreneurs, while fostering innovation within the United States.
The exemption will attract innovation, according to Paul Atkins
The SEC's proposal seeks to establish a flexible regulatory framework that allows companies to experiment with digital assets and new technologies without fear of immediate sanctions. Atkins explained that the idea is to provide a space for legal clarity that incentivizes innovators to build in the United States, rather than seeking more permissive jurisdictions abroad.
Until now, the agency had regulated the sector primarily through legal actions and sanctions, which generated uncertainty and mistrust in the ecosystem. With the exemption proposal, would move to a more formal and transparent model, based on clear rules and public consultation processes. This would represent a significant shift in the way the SEC engages with the industry, moving from confrontation to collaboration.
Atkins himself stressed that cryptocurrencies are “job number one” for the agency and that his intention is to transform the SEC into an agency that not only oversees but also drives financial innovation. In August, when presenting the so-called Project Crypto, promised that “The next chapter of financial innovation will be written in the United States.”.
However, the partial government shutdown, which took effect on October 1, has put much of the regulatory work on hold. While the SEC maintains essential functions, new rulemaking, including those related to cryptocurrencies, is on hold. Atkins acknowledged that this situation could delay the deadlines, though he reiterated his confidence that the exemption could be ready by 2025-2026.
Access crypto from Bit2Me: fast and transparentThe US advances legislation for cryptocurrencies and stablecoins.
The US regulatory debate on the crypto industry is not limited to the SEC's actions. The US Congress has also begun to take steps toward a more defined legal framework for the digital asset sector. One of the most significant developments has been the passage of the GENIUS Act, the first comprehensive regulation in the United States focused on stablecoins. This legislation has allowed the Treasury Department to publish preliminary rules for the sector, paving the way for more widespread use of stablecoins in everyday transactions.
Examples such as the integration of regulated stablecoins into Visa's payment tools show how these cryptoassets are beginning to integrate into traditional financial infrastructure. For analysts like Greg Xethalis, partner at Multicoin Capital, these types of advances represent the "plumbing" necessary for developers to build practical applications on more solid regulatory foundations.
However, not everyone shares the same optimism. Summer Mersinger, executive director of the Blockchain Association and former CFTC commissioner, warned that the probability of a comprehensive law on crypto market structure being passed before 2025 is just over 50%. CoinFund's Chris Perkins also expressed doubt about the viability of a legislative consensus in the short term.
Despite these reservations, Atkins praised Congress's efforts and expressed confidence that the combination of the GENIUS Act and the upcoming innovation exemption will lay the groundwork for a more robust ecosystem. He said the goal is to welcome innovators and ensure they can grow within the United States without having to relocate to other jurisdictions.
Hold crypto on Bit2Me and protect its value for the long term.A crypto future under construction
The path toward clear and balanced cryptocurrency regulation in the United States remains fraught with challenges. Political uncertainty, delays stemming from the government shutdown, and differences in Congress could slow the process. However, the vision expressed by Paul Atkins marks a change in tone from the previous period of confrontation with the industry.
If the innovation exemption is implemented, the United States could offer a regulatory framework that combines oversight with incentives for technological development. This would not only provide greater security for investors but also allow entrepreneurs to work within clear and predictable rules.
The transition to a more open and collaborative regulatory model is still underway, but the steps taken so far—from the GENIUS Act to the SEC's public commitment—show that the debate about the future of cryptocurrencies in the United States is no longer focused on repression, but on how to build a sustainable and competitive ecosystem globally.
In Atkins's words, the goal is for financial innovation to be written not in other latitudes, but in the United States. The outcome will depend on the institutions' ability to transform this vision into concrete regulations that balance investor protection with the promotion of innovation.
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