Overview
- SEC Chair Paul Atkins said on CNBC that the agency expects to publish the crypto-focused exemption within weeks after work paused during the government shutdown.
- The commission is providing technical assistance to Congress on digital-asset legislation, positioning the new pathway as a bridge until a market-structure bill is in place.
- Agency strategy prioritizes IPO reforms to reopen the listings pipeline, using crypto as a proving ground to bolster U.S. market competitiveness.
- The exemption is described as a "permission to compete" model that would let qualified firms release on-chain products under oversight before full compliance is finalized.
- Major exchanges have voiced concerns about loosening rules for crypto platforms, citing risks tied to tokenized securities and expanded cross-border trading access.