SEC Chairman Predicts: Cryptocurrency Will Become the New Foundation of Global Finance in the Coming Years

SEC Chairman Paul Atkins recently made a groundbreaking prediction in an interview, stating that Bitcoin and the broader class of crypto assets will become the foundational layer of the global financial system in the next few years, “This will be the direction of world development.”

This statement aligns with the SEC’s recent efforts to upgrade financial infrastructure, with a focus on systematically transitioning the traditional financial system to crypto-native technologies, especially the “on-chain migration” of securities assets.

The SEC Chairman likened this transformation to the revolution in the music industry from vinyl records to digital audio, believing that blockchain technology can transparently allocate rights through smart contracts, activate illiquid assets, and create entirely new issuance, trading, and holding models for capital markets—just as MP3s fundamentally changed the nature of audio distribution.

Specifically, the transformation involves not only the tokenization of assets but also the on-chain reconstruction of traditional financial infrastructure. Previously, some experts predicted that within the next two years, all U.S. markets might achieve on-chain operation and settlement, with blockchain providing clearer ownership verification.

This transformation is not without guidance, but rather is built on a new crypto asset regulatory framework that the SEC is constructing. The regulator has made it clear that it will move away from the prior “enforcement over policy” approach, instead developing formal rules, optimizing exemption clauses, and improving disclosure guidelines to establish clear standards for the issuance, custody, and trading of crypto assets.

For example, in terms of issuance, the SEC plans to adjust traditional registration forms to accommodate the characteristics of crypto assets; in custody, it will abolish restrictive accounting rules and clarify the definition of “qualified custodian”; and in trading, it will support broker-dealers in creating integrated service platforms that blend securities with crypto assets. These measures aim to solidify the U.S.’s leadership in the global crypto space.

In summary, while Bitcoin is speculative and highly volatile, as the dominant player in the crypto asset market and having been explicitly defined as a non-security, it is closer to a tool for storing value.

This series of statements and reforms from the SEC is building a system framework and development path for the transition of the traditional financial system toward crypto technology, emphasizing both innovation and risk control.

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