"SEC Chair Paul Atkins on May 8 outlined a potential new phase of SEC rulemaking tied to onchain financial markets, pointing to possible proposals covering onchain trading systems, broker-dealer activity, clearing functions, and crypto vaults. Speaking at the Special Competitive Studies Project AI+ Expo in Washington, Atkins indicated the SEC is evaluating whether existing securities frameworks adequately address blockchain-based financial infrastructure. Rather than treating decentralized systems as isolated products, Atkins framed many onchain platforms as integrated financial architectures that combine execution, collateral management, liquidity routing, settlement, and automated trading strategies within a single protocol."
"Atkins highlighted broader SEC interest in formal onchain market structure rulemaking. Blockchain-based trading and clearing systems may receive tailored regulatory treatment under future proposals. Crypto vaults drew increased attention as regulators examine securities and adviser law implications. Securities and Exchange Commission (SEC) Chairman Paul S. Atkins on May 8 outlined a potential new phase of SEC rulemaking tied to onchain financial markets, pointing to possible proposals covering onchain trading systems, broker-dealer activity, clearing functions, and crypto vaults."
"Atkins indicated the Commission may consider a limited innovation pathway in the near term while also pursuing notice-and-comment rulemaking tied to how the exchange definition applies to onchain trading systems. Atkins stated: As the Commission considers these policy initiatives, we should remember that onchain market structures today are often hybrid in nature, combining elements of what are often referred to as traditional' and decentralized' finance. The remarks also suggested the SEC may m"
SEC Chair Paul Atkins signaled a potential new phase of SEC rulemaking focused on onchain financial markets. Possible proposals could cover onchain trading systems, broker-dealer activity, clearing functions, and crypto vaults. The SEC is evaluating whether existing securities frameworks adequately address blockchain-based financial infrastructure. Atkins framed many onchain platforms as integrated financial architectures that combine execution, collateral management, liquidity routing, settlement, and automated trading strategies within a single protocol. He indicated the SEC may consider a limited innovation pathway while also pursuing notice-and-comment rulemaking tied to how the exchange definition applies to onchain trading systems. Hybrid platforms may require clearer securities treatment.
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