PANews reported on May 9th, citing CoinDesk, that U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins stated that as digital asset companies increasingly migrate trading and settlement activities on-chain, the SEC is considering new rules for on-chain trading systems, blockchain settlement infrastructure, AI-driven financial applications, and crypto vaults. He pointed out that existing securities regulations are designed around traditional intermediaries such as brokers, exchanges, and clearinghouses, while a single blockchain protocol often integrates multiple functions such as trade execution, collateral management, liquidity routing, strategy execution, and settlement.

Atkins argues that on-chain market structures are often hybrid, and the SEC should clarify its approach to these models through formal rulemaking rather than enforcement actions. He emphasizes that AI agents will participate in market and financial decisions at machine speed, and blockchain payment tracks enable these systems to transfer value instantly; the SEC should not bind emerging technologies to outdated rules. Atkins also reiterated his support for Congress passing legislation on crypto market structures such as the CLARITY Act.