SEC Chairman Criticizes Biden Administration's Crypto Policy as Missed Opportunity
SEC Chairman Paul Atkins has sharply criticized the Biden administration's approach to cryptocurrency, describing it as a missed opportunity that hindered progress in the industry. Atkins, who assumed office in April 2025, argues that the previous regulation by enforcement strategy under Gary Gensler stifled innovation and created unnecessary market uncertainty
Key Criticisms and Policy Shifts
Under the current leadership, the SEC has pivoted away from the Biden-era stance in several ways:
Stifled Innovation: Atkins claims the previous rigid oversight caused the U.S. to lose ground in the global crypto sector.
Regulatory Uncertainty: He has pledged to establish a rational, fit-for-purpose framework to replace what he termed lawless enforcement actions.
Enforcement Rollback: Since 2025, the SEC has withdrawn or softened more than 60% of crypto cases inherited from the Biden administration.
Project Crypto: Atkins launched this initiative to update SEC rules, including a proposed token taxonomy that may categorize many digital assets as non-securities.
Shift in Focus: The agency's new Cyber and Emerging Technologies Unit now prioritizes fraud and AI-related misconduct rather than the registration-focused cases common under Gensler
Contrasting Perspectives
While the current administration promotes a pro-innovation agenda, former Chairman Gary Gensler continues to defend his record:
Investor Protection: Gensler maintains that his enforcement actions were necessary to protect investors from a field he describes as rife with fraud.
Lack of Fundamentals: He recently reiterated that most tokens, excluding Bitcoin, are highly speculative and lack economic fundamentals.
#SEC $BTC $BNB $ETH