Overview

• Gary Gensler said on CNBC that his enforcement record was aimed at investor protection, calling crypto highly speculative and driven by hype, with most tokens lacking fundamentals aside from Bitcoin.
• Following the leadership shift to Chair Paul Atkins, the SEC has launched Project Crypto and begun working with the CFTC on clearer rules, while high-profile cases against Coinbase and Kraken were withdrawn under acting chair Mark Uyeda.
• Reporting from industry outlets says the SEC is signaling a narrower view of token securities status, with the new line that very few tokens qualify as securities.
• Crypto exchange-traded fund filings are moving through streamlined approvals that contrast with the prolonged reviews seen during Gensler’s tenure.
• Trump has proposed moving public-company earnings disclosures to a twice-a-year cadence, and Atkins said the SEC will consider and move forward on the change as Gensler warns reduced transparency could raise risks.