SEC Chair Paul Atkins said the U.S. “can and should be the crypto capital of the world” during a House hearing on Wednesday, where Democrats accused him of eroding trust by dismissing cases against crypto firms tied to President Trump.
The Crypto Capital Vision
Atkins told the House Financial Services Committee that achieving Trump’s goal of making the U.S. the crypto capital requires a framework that makes sense.
Traditional SEC rules “are not really fit for purpose” and created marketplace uncertainty, driving the need for the Clarity Act.
“We want to make sure people know the rules of the road and can abide by it,” Atkins said, emphasizing the SEC must work closely with the CFTC to avoid gaps in oversight while giving innovators clarity.
The Democratic Attack
Rep. Stephen Lynch (D-MA) told Atkins that “people are losing trust” in both the SEC and crypto industry. “This is not good for crypto, it’s certainly not …