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Crypto

Why the U.S. SEC chose rulemaking over enforcement

The U.S. Securities and Exchange Commission has sharply shifted its approach toward crypto firms during Chair Paul Atkins\' first year in office, moving away from enforcement. The SEC has halted civil actions and investigations, approved multiple crypto-linked exchange-traded funds and expanded regulatory coordination, including with the CFTC. Atkins said the agency delivered major progress and moved past enforcement-led regulation. Democrats have criticised the SEC and Atkins over conflict-of-interest concerns, while regulatory uncertainty persists pending passage of the Clarity Act.

Crypto

Warren questions SEC enforcement drop, whether Chair Atkins misled Congress

U.S. Senator Elizabeth Warren said SEC Chair Paul Atkins may have misled Congress about a decline in the agency’s enforcement activity. Warren pointed to a major gap between Atkins’ Feb. 12 hearing answers and fiscal 2025 enforcement data the SEC released on April 7. She said the newly released figures show the number of enforcement actions the SEC initiated was the lowest in 10 years, and criticised the broader enforcement level as the lowest in more than 20 years.

Crypto

U.S. banking group rebuts White House report, warns interest-bearing stablecoins could pull deposits

U.S. banks have clashed with the White House over whether to allow interest on payment stablecoins, warning it could pull money out of the banking system and weaken local finance. The American Bankers Association publicly challenged a report by the White House Council of Economic Advisers, saying it ignored risks if interest-bearing stablecoins spread rapidly. The dispute comes as the Senate returns to debate the CLARITY Act regulating digital asset market structure.