How Crypto Regulation Could Change Under Trump and the New SEC

Under the incoming Trump administration, the U.S. crypto sector may see a dramatic shift in regulatory approach, reflecting the President-elect’s pledge to make the country the “crypto capital of the planet.” Paul Atkins, a known cryptocurrency supporter, is poised to lead the Securities and Exchange Commission (SEC), and many industry players are hopeful he will halt “regulation by enforcement” in favor of clearer, more supportive rules. Key areas on the table include clarifying which crypto assets qualify as securities—especially for initial token sales—while potentially allowing secondary trading to proceed without strict broker-dealer rules. There’s also growing sentiment that consumer protection regulations, similar to Japan’s approach, may better serve the market than the more cumbersome securities-focused framework for every transaction.

Lawmakers on Capitol Hill appear ready to enact new crypto legislation—potentially covering stablecoins, guidance for non-fungible tokens (NFTs), and clarifying the SEC’s stance on custodial services. For innovators, the main goal is to gain explicit assurances about which tokens and transactions fall outside securities laws. Meanwhile, proposed changes such as repealing staff accounting rules that hinder banks from providing crypto custody could galvanize the broader financial industry’s involvement. Although much is still uncertain, the possibility of a pro-crypto environment in Washington has offered renewed hope for the sector, which has long sought clear regulatory engagement and stability.