SEC Eyes Crypto Integration with Wall Street in Policy Shake-Up

SEC’s Roadmap for Digital Assets On Sept. 4, SEC Chairman Paul Atkins revealed the Commission’s Spring 2025 regulatory agenda, directing staff to design rules that integrate digital assets with established market ￰0￱ agenda calls for amendments that would allow crypto assets to trade on national securities exchanges and alternative trading systems, addressing a key demand from the industry for regulatory ￰1￱ stressed that his priority is to provide “clear rules of the road” for issuance, custody, and trading while discouraging misconduct. A Departure from Enforcement-First Policies The shift marks a stark contrast with the enforcement-heavy approach under former Chair Gary ￰2￱ 2021 and 2024, the SEC pursued over 125 crypto-related enforcement actions, including lawsuits against Coinbase and Binance.

A 2024 Cornerstone Research report found enforcement penalties hit record highs, yet case numbers dropped by 30% year over year, hinting at a slowdown even before the ￰3￱ then, the Trump-era SEC has withdrawn a significant portion of these cases, signaling a retreat from the aggressive litigation ￰4￱ Implications and Nasdaq’s Oversight The SEC’s new clarity is already influencing major ￰5￱ is heightening scrutiny of companies raising capital for large crypto ￰6￱ to The Information , the exchange has begun delaying approvals and requiring more disclosures, aiming to curb stock price manipulation and ensure long-term sustainability in corporate crypto ￰7￱ dual trend—regulatory inclusion by the SEC and internal caution by Nasdaq—suggests crypto’s integration with Wall Street will come with both opportunity and greater accountability.