The SEC chairman stated that the previous administration missed a crucial opportunity and is now accelerating the development of crypto regulation and tokenization pilot programs.

PANews reported on February 28th that, according to The Block, current SEC Chairman Paul Atkins criticized former Chairman Gary Gensler at a University of Texas event for "failing to adapt to innovation" during his tenure, stating that the US "missed out on significant opportunities" in the crypto space and is now trying to catch up. Atkins stated that since the Trump administration, the SEC has adopted a more industry-friendly approach, establishing a dedicated crypto task force, dropping several enforcement cases against large institutions, and launching "Project Crypto" to update rules. He emphasized the potential of distributed ledger technology in payment clearing and settlement, and revealed that the SEC has approved WisdomTree's 24/7 settlement tokenized money market fund, and will further promote tokenized bank deposits.