SEC Chairman Supports Trump's Encryption New Policy: America Must Lead the Transformation of Encryption Assets

Paul S. Atkins, the chairman of the U.S. Securities and Exchange Commission (SEC), recently publicly supported the cryptocurrency policy recommendations report from the President's Working Group on Financial Markets (PWG), calling it a result of ongoing cross-departmental collaboration and a key step towards achieving encryption regulatory clarity. Atkins emphasized that this move aligns with President Trump’s goal of making the U.S. a global crypto economic center. The Trump administration has urged federal agencies such as the SEC and CFTC to implement the report's recommendations, aiming to accelerate the compliance process for digital asset trading at the federal level and ensure that the U.S. leads the Blockchain revolution and ushers in the Crypto Golden Age. This article will provide a detailed analysis of the core recommendations of the PWG report, the SEC's subsequent actions, and the latest developments on the stablecoin regulatory bill.

SEC Chairman Atkins: PWG report balances innovation and protection, SEC will take proactive action

Atkins stated in the declaration:

• Value of the PWG Report: Provides a balanced framework for the regulation of digital assets that both encourages encryption technology innovation and protects investor rights, while maintaining the global leading position of the US financial markets.
• Framework Objectives: Maintain market stability, promote safe adoption, enhance investor protection.
• SEC's Follow-up Actions: The SEC will continue to exercise its existing authority, formulate new rules, and enforce relevant legislation passed by Congress (such as the recently signed stablecoin regulation bill). The SEC will work closely with Commissioner Hester Peirce and the Crypto Assets Working Group to advance the crypto vision.

Atkins particularly praised President Trump's "forward-looking stance," stating, "Thank goodness, President Trump is actively leading on this matter," and pointed out that this was lacking in the previous administration.

Core Recommendations of the PWG Report: Unified Regulation, Breaking Down Barriers, Clarifying Rules

The report calls on the SEC, the Commodity Futures Trading Commission (CFTC), and other key federal agencies to strengthen coordination and establish a unified, transparent, and consistent encryption regulatory system. Atkin committed to formulating innovative and sustainable regulatory policies based on this, managing potential risks while promoting industry development. He acknowledged that the U.S. needs to make greater efforts to maintain its leading position in the crypto revolution and is ready to fulfill its responsibilities.

Key recommendations of the report include:

1. Promote Federal Compliance Trading: The SEC and CFTC need to establish clear rules for registration, custody, trading, and record-keeping within their jurisdictions to promote compliance trading of digital assets at the federal level.
2. Accelerate Product Launches: Regulatory agencies must ensure that new financial products (such as crypto derivatives, Blockchain ETFs) can quickly enter the market, avoiding being hindered by red tape.
3. Clarifying Bank Functions: Institutions need to clarify the business scope that banks can engage in regarding stablecoin issuance and Blockchain technology application.
4. Transparency in Banking License Process: Enhance information disclosure regarding the process of obtaining Bank Charters.

Trump administration vigorously promotes, stablecoin bill takes the lead

The Trump administration officially urged federal regulators to implement the recommendations of the PWG report on Wednesday (the day the report was released). The White House emphasized in a briefing: "By implementing these recommendations, policymakers can ensure that the United States leads the Blockchain revolution and ushers in the era of Crypto Assets."

It is worth noting that shortly before this proposal was released, President Trump had just signed the first congressional legislation in the United States, the "Stablecoin Regulatory Framework". Despite controversies, the bill establishes a clear regulatory pathway for dollar-backed stablecoins, and supporters believe this will greatly enhance the adoption of digital assets in the mainstream financial sector.

Controversy: Some members of Congress criticized the stablecoin framework, believing that the president and his family have conflicts of interest with digital asset businesses (such as the tokens and stablecoins issued by their affiliated company, World Liberty Financial), which may lead to conflicts of interest.

Conclusion: The US Crypto Regulatory Framework is Accelerating Formation, the Industry is Welcoming a Key Turning Point

The public support of the SEC leadership for the PWG report and the strong push from the Trump administration mark an acceleration in the integration and clarification of the U.S. Crypto Assets regulatory system. The core objective is clear: to eliminate institutional barriers while ensuring investor protection and market stability, establishing the United States' global leadership in the crypto economy. The recent signing of the stablecoin bill and the implementation of PWG's recommendations will serve as important cornerstones for building a comprehensive crypto regulatory framework. Despite controversies regarding conflicts of interest, the positive trends at the policy level undoubtedly inject strong confidence into the industry. Market participants need to closely monitor the specific details of the SEC and CFTC's subsequent rule-making and clarification of banking functions, as these will profoundly impact the compliance paths for digital asset trading, product innovation, and institutional participation.