Our introduction to a June 2025 speech from one of the speakers, S.E.C. Commissioner Hester Peirce:
Commissioner Peirce is a bit of a wild child and more willing than most commissioners, past and present, to experiment in the areas of market structure and securities regulation.
Here she addresses the Investment Company Act of 1940...
I believe that is the only time I have described a Commissioner as a 'wild child."
From the Securities and Exchange Commission,
Commissioner Peirce: I am honored to be on stage today with Chairman Paul Atkins. Before we begin, let me remind you that my statements and his are our own in our official capacities and do not necessarily reflect the views of the Commission or our fellow Commissioner. Chairman Atkins needs little introduction, but let me give you a brief bio for him.
Paul S. Atkins was sworn into office as the 34th Chairman of the Securities and Exchange Commission on April 21 of last year. Prior to returning to the SEC, Chairman Atkins was most recently chief executive of Patomak Global Partners, a consulting firm he founded in 2009. Chairman Atkins previously served as a Commissioner of the SEC from 2002 to 2008. During his tenure, he advocated for transparency, consistency, and the use of cost-benefit analysis at the agency. Chairman Atkins began his career as a lawyer in New York, focusing on a wide range of corporate transactions for U.S. and foreign clients, including public and private securities offerings and mergers and acquisitions. He was resident for 2½ years in his firm’s Paris office and admitted as conseil juridique in France. A member of the New York and Florida bars, Chairman Atkins received his J.D. from Vanderbilt University School of Law and his A.B., Phi Beta Kappa, from Wofford College in 1980. Originally from Lillington, North Carolina, Chairman Atkins grew up in Tampa, Florida. He and his wife Sarah have three sons.
One other interesting fact about Chairman Atkins is that he speaks German and French fluently. He likely is looking for another language to add to his repertoire. Mr. Chairman, have you considered learning Solidity?
Chairman Atkins: No need. Vibe coding works just fine. It is a big step up from the BASIC-PLUS and COBOL I used in college.
Commissioner Peirce: Fair point, Mr. Chairman, but if the smart contract your AI writes starts saying everything is a security, we’ll suspect AI hallucination. A few years ago, if someone had told me that I would be standing at a crypto conference with the Chairman of the SEC, I would have thought that person was hallucinating. But we’re here, so let’s get to some substance. During the past year, the SEC under the leadership of Chairman Atkins and Acting Chairman Uyeda in the early part of the year has taken a lot of steps toward crypto clarity. We have:
- Sought and received written responses to multiple sets of difficult questions covering a wide range of crypto topics;
- Held several in-depth roundtables on discrete topics including the definition of a security, trading, custody, tokenization, DeFi, and privacy;
- Met with many developers and builders in Washington D.C., virtually, and in crypto-on-the-road meetings in cities across the country;
- Provided technical assistance to Congress as it works on crypto legislation;
- Launched a new initiative with the Commodity Futures Trading Commission (CFTC) to build a lasting basis for coordination and cooperation in regulating areas of joint interest, including crypto;
- Ended regulation by enforcement;
- Issued multiple staff guidance documents and frequently asked questions to help people understand what the SEC staff thinks is and is not within the SEC’s jurisdiction (including on issues like mining, staking, meme coins, and stable coins), and how regulated entities engaging with crypto can comply with our existing rules;
- Got rid of unhelpful staff guidance, such as SAB 121;
- Published a staff statement on the custody of crypto asset securities by broker-dealers;
- Issued a cross-divisional staff statement outlining a taxonomy for tokenized securities;
- Approved exchange generic listing standards for crypto ETPs;
- Issued staff no-action letters to several projects, including on tokenization and DePIN; and
- Began the process of designing rules, exemptive relief, and Commission interpretations, which will help to form the basis for a durable regulatory framework.
Mr. Chairman, can you give us a preview of what to expect this year on the crypto regulatory front?....
....MUCH MORE
Also from the Commissioner, July 9, 2025:
