SEC Enters Critical 12-Month Rulemaking Period Under Atkins, TD Cowen Says

The U.S. Securities and Exchange Commission is entering a critical 12-month regulatory period as it advances crypto rulemaking under Chairman Paul Atkins, TD Cowen analysts led by Jaret Seiberg said. The SEC must begin publishing proposals within coming months to finalize rules by 2027, given the two-year maximum timeline from proposal to completion, Seiberg noted. Last week, Atkins unveiled a token classification framework designed to define when digital assets should be categorized as securities. The analysts expect Atkins to focus on tokenized equity assets, with anticipated exemptive relief for online brokerages and crypto platforms to facilitate tokenized equity operations.