During a recent event in Washington, D.C., SEC Chair Paul Atkins noted that the United States is lagging significantly in the crypto space, a problem he deems a top priority to address.

The Need for a Regulatory Framework Atkins expressed during the DC Fintech Week event that innovation requires a robust regulatory framework to attract talent back to the U.S. that has left due to unfavorable conditions. “The crypto aspect is our job one,” he commented, emphasizing the urgency.

Innovation Exemptions and Superapps Atkins elaborated that crafting effective crypto regulations aligns with his vision for embracing innovation, hinting at the possibility of an ‘innovation exemption’ to foster experimentation with new ideas.

He suggested that the development of integrated financial platforms known as ‘superapps,’ which combine various services, could be better supported under a revised regulatory approach. The SEC is keen on paving the way for such innovations inspired by models from China.

Atkins believes that improving regulatory alignment across agencies could help the U.S. become a hub for crypto advancement instead of being an afterthought. “Thinking about regulatory coordination as an app in and of itself is very clever,” he stated, reflecting on the potential for more cohesive governance in the sector.