A coalition of prominent Democratic lawmakers has issued a sharp critique of SEC Chair Paul Atkins, accusing the commission of undermining market integrity through a perceived rollback of cryptocurrency enforcement actions. During a high-stakes congressional hearing, members of the House Financial Services Committee expressed concerns that the SEC’s new direction prioritizes the interests of digital asset firms over the protection of retail investors. Critics, including Senator Elizabeth Warren and Representative Maxine Waters, argued that easing the ‘regulation by enforcement’ approach—which was a hallmark of the previous administration—could invite a new wave of fraud and market volatility. Chair Atkins defended the agency’s pivot, stating that the commission aims to provide clear, proactive guidelines to foster innovation rather than relying on constant litigation. However, lawmakers countered that the lack of aggressive oversight signals a retreat from the SEC’s core mission to safeguard the American public. The heated exchange underscores a deepening partisan divide in Washington regarding the future of digital asset regulation and the appropriate level of federal supervision for the crypto industry.
Source: Democratic lawmakers slam SEC Chair Atkins over crypto enforcement
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