SEC Chair Atkins Unveils On-Chain Plan: 4 Rules to Reshape Crypto

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Hyperliquid Policy Center Praises SEC Chair Atkins’ On-Chain Agenda Featuring 4 Key Proposals

On Friday, the Hyperliquid Policy Center commended SEC Chair Paul Atkins for his work to make rules clearer for markets operating on blockchains.

SEC’s On-Chain Guidance Agenda

Mr. Atkins focused his comments on four areas where he believes the Commission needs to offer clearer rules for how regulations apply to activities happening directly on blockchains. He emphasized that those involved in on-chain trading should understand exactly how these systems fit within the existing legal framework.

He predicted the SEC might soon explore a limited path for innovation, but also emphasized the need for the agency to develop a long-term framework that can adapt to future changes.

He believes the best way forward is to use a standard public review process, where the SEC would explain how its definition of an “exchange” applies to trading systems that operate on blockchains.

The SEC chair also emphasized the importance of defining how existing rules for brokers and dealers would apply to these new activities. He recommended the Commission review concerns highlighted in a recent staff report about software connections, and proposed that any new policies could be implemented through a streamlined rule-making process that doesn’t require public comment.

Another key focus was clarifying what counts as a “clearing agency” when dealing with transactions directly on the blockchain. According to Atkins, the agency might need to create new rules to specify which common activities wouldn’t be considered part of that definition.

Atkins also requested more information about “crypto vaults.” These are essentially software programs on the blockchain that let users earn rewards simply by putting their cryptocurrency into opportunities that generate returns.

He suggested the Commission review how its proposed policies affect key parts of the Securities Act and the Advisers Act.

Why Hyperliquid Policy Center Finds It Promising

Atkins finished by stating the SEC will continue adapting to the growing trend of on-chain markets. He also repeated his request for Congress to pass the CLARITY Act and send it to President Trump for approval.

He pointed out that while the SEC is trying to make its rules adaptable for the future by using the standard public comment process, the best way to ensure long-term stability would be to establish clear and effective rules directly through legislation.

The Hyperliquid Policy Center, with Jake Chervinsky at the helm, praised Atkins’ strategy of applying existing laws to new blockchain-based clearing and settlement systems without trying to fit them into outdated legal definitions designed for older technologies.

As a crypto investor, I was really encouraged to see Hyperliquid call on-chain clearing and settlement a potentially game-changing innovation for finance. It sounds like they see the recent statements from the chairman as a positive sign – a step towards getting regulations in line with how these new on-chain systems are developing, which is crucial for wider adoption.

As of today, Hyperliquid’s token, HYPE, is worth $42.98, up 2% from yesterday. However, it’s still about 27% below its peak price of $59, which it hit last year.

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2026-05-09 06:59