Dry wants to accelerate crypto innovation with an unprecedented exemption

The Enfre peoplesler, with the Biden administration in the background, ended. No more alarmist speeches on a crypto seen as a systemic threat. Now place for a clear and suitable regulation, where innovation is no longer suspect but accompanied. At the head of the dry since April 2025, Paul Atkins wants to go quickly. His idea of ​​”innovation exemption” summarizes this turning point: loosen the regulatory vice, offer visibility and allow the American crypto industry to breathe.

Paul Atkins in front of the inheritance Gensler: a dry breaking

Under Gary Gensler, the dry repeated that the majority of tokens had to be considered as financial titles. This strict reading of the Howey Test braked innovation. Paul Atkins breaks with this doctrine. According to him, very few tokens are Securities, it all depends on how they are structured and distributed.

This change in tone represents a real reversal for the American crypto industry.

To give body to this vision, Atkins launched in July Project Crypto. The objective: to adapt rules designed in the 1930s to the reality of digital assets. An approach that aims to modernize market law and prepare an environment favorable to tokenized products.

In an interview on Fox Business, he explained:

We seek to set up an innovation exemption by the end of the year. Many things happen and I am really very enthusiastic about giving this industry a solid base in America, so that the country can lead by innovation, as requested by the president.

This philosophy resulted in a strong signal: the recent approval of the first American ETP Multi-Crypto, which makes it possible to invest in one go in Bitcoin, Ethereum, XRP, Solana and Cardano. With the “” Exemption innovation », Atkins wants to prolong this dynamic by giving Crypto companies a field of experimentation under light surveillance. This measure would act as a valve, offering the flexibility necessary to test new products without immediately colliding with legal heaviness.

With Atkins, the dry no longer blocks, it opens doors. For investors and businesses, the climate changes radically.

Harmonize crypto regulation: dry and hand in hand in hand

The other major project of Atkins is to end the rivalry between the dry and the CFTC. For years, the two agencies competed for the jurisdiction of digital assets. Result: legal uncertainties, delayed products and crypto startups preferring to settle abroad.

Atkins wants to end these territory wars. He said it bluntly:

[…] We must give certainty to the market. It is the American investor and the American economy that will benefit from a joint effort of the two agencies working hand in hand, and I can't wait to continue on this path.

This harmonization accompanies a broader evolution. The Genius Act, recently adopted, registered stablecoins for the first time in American law. Next meeting: fall 2025, with the expected vote of the congress on the reform of the Market Structure.

This step must give a lasting legal basis to the initiatives already engaged.

Key landmarks of the new orientation

• April 2025: Paul Atkins took over the presidency of the dry;
• July 2025: Launch of Project Crypto to adapt regulation to digital assets;
• September 2025: Validation of the first American Multi-Crypto;
• Fall 2025: expected vote on the reform of the Market Structure;
• Adoption of the Genius Act, first legal recognition of stablecoins.

Finally, Atkins wants to democratize access to private markets. He proposes that ordinary savers, via 401-K, can diversify their portfolios with investments formerly reserved for large fortunes and institutional funds. For him, Crypto regulation must become a financial mobility tool and not a brake.

Admittedly, switching to the crypto train means accepting a new paradigm for certain traditional actors. But the air has changed: even among the Democrats, long skeptical, joining the American crypto revolution is no longer taboo.