
SEC Chair Paul Atkins postponed January’s planned crypto exemption for tokenized securities after Wall Street opposition, with banks urging adherence to existing laws citing systemic risks.
SEC Chair Paul Atkins has withdrawn the planned January rollout of a cryptocurrency exemption for tokenized securities following strong pushback from major Wall Street banks and industry groups. Opponents argued that existing securities laws should apply and warned of potential systemic risks from broad exemptions. The proposal aimed to ease regulatory treatment for certain blockchain-based financial products but will remain postponed, with Atkins indicating that the SEC may await Congressional direction before proceeding.