Blockchain Legal Resource

In a recent social media post and television interview, Securities and Exchange Commission Chairman Paul Atkins announced that US capital markets are "poised to move on-chain.” At the same time, on December 11, 2025, the SEC staff issued a no-action letter to a prominent registered clearing agency and securities depositary to launch a  securities tokenization pilot program. The pilot program will allow participants to transfer tokenized securities to registered wallets of other participants.

In prepared remarks at the SEC’s roundtable on tokenization held May 12, 2025, SEC Chairman Paul Atkins provided a roadmap for the SEC’s future efforts involving crypto and digital assets. A “key priority,” Atkins declared, “will be to develop a rational regulatory framework for crypto asset markets that establishes clear rules of the road . . . while continuing to discourage bad actors from violating the law.”

On April 17, 2024, Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) introduced a bill entitled the Lummis-Gillibrand Payment Stablecoin Act. The bill is the latest bipartisan effort by the two senators to provide a comprehensive federal oversight regime for the regulation of stablecoins.

On March 6, 2024, by a party-line vote of 3-2, the US Securities and Exchange Commission (SEC) adopted final rules (entitled “The Enhancement and Standardization of Climate-Related Disclosures for Investors”) requiring most public companies to disclose climate-related information in registration statements and annual reports filed with the SEC. The SEC first proposed climate disclosure rules in March 2022, and the proposal has been a source of much debate and controversy, generating over 24,000 comment letters, more than any regulation in the history of the SEC.

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