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SEC close to putting out ‘reg crypto’ for fundraising questions, Chair Atkins says

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SEC close to putting out 'reg crypto' for fundraising questions, Chair Atkins says

NASHVILLE, Tenn. — The Securities and Exchange Commission is close to proposing a “regulation crypto” fleshing out its approach to overseeing the crypto industry and drawing lines between transactions that might be securities and where they aren’t, the agency’s head said Monday.

SEC Chair Paul Atkins said the commission’s new reg crypto is in front of the White House Office of Information and Regulatory Affairs, meaning it’s one step away from being published. This rulemaking is focused on the Securities Act of 1933 and will address fundraising and startup exemptions, among other issues, he said Monday at an event hosted by Vanderbilt University and the Blockchain Association.

He told CoinDesk after his question-and-answer session that the SEC also intends to put out its long-awaited innovation exemption soon.

“We’d love to have reactions and everything else,” he said. “It’s not a rule as such but obviously we need to know how it’s functioning and if people have problems with it or not.”

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One aspect to this exemption, he said, is that it wouldn’t disadvantage incumbents and focus solely on startups.

“We want people really to experiment within [that] framework,” he said.

Midterm watch

At multiple points during his talk, Atkins pointed to Congress’s role, saying that his agency’s rulemaking process was well underway despite whatever Congress may do.

“I think we have enough of a runway now, even notwithstanding what may happen in the midterms — although I really still want a friendly Congress obviously — they can throw tacks on the road in front of our tires but they’re not going to really slow us down.”

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Atkins also said the audience needed “to be engaged in this upcoming election,” pointing to Senator Bernie Moreno as an example.

“To have Congress really veer off track is not going to any of us any good, and it’s going to put a lot more questions into the future because people then just have ‘oh gosh, maybe this is again a passing phase,’” he said. “We’ve got to make sure that your friends are in Congress. I think you saw how that really paid benefits in the last election.”

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Crypto World

XRP slips to $1.31 after failed breakout as liquidity dries up

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XRP slips to $1.31 after failed breakout as liquidity dries up


Rejection at $1.35 and collapsing depth raise risk of sharper moves as positioning builds.

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Indonesian Authorities Used Crypto Data to Convict Criminals

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Indonesian Authorities Used Crypto Data to Convict Criminals

Onchain evidence was key to securing the conviction of three individuals for terrorism financing in Indonesia in 2024 and 2025, reflecting a clear shift in the way courts value onchain evidence.

“Indonesian courts have demonstrated that cryptocurrency evidence — wallet addresses, transaction histories, on-chain flows — is not only admissible but can anchor a terrorism financing prosecution,” TRM said in a statement Sunday.

TRM said terrorism financing networks have preferred cryptocurrency as a mechanism of choice to move money, as authorities and regulators have been slow to treat it with the same level of scrutiny as traditional fiat channels, but noted that this is now changing. 

Indonesian authorities traced one defendant sending more than $49,000 worth of USDt (USDT) across 15 transactions from a local exchange to a foreign platform, with the funds later routed to an ISIS-linked terrorism fundraising campaign in Syria, according to the blockchain firm. 

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Indonesia’s financial intelligence team and its counterterrorism police unit, Densus 88, carried out the analysis and presented the findings to Indonesian courts, which accepted the blockchain data as key evidence in each of the three cases.

Source: TRM Labs

Indonesia is not the only country in Southeast Asia using blockchain analytics to catch criminals, TRM said.

“Similar patterns are emerging across Southeast Asia, where governments are investing in blockchain intelligence capabilities and enhancing collaboration between public and private sectors to address illicit finance risks.”

TRM Labs said that Singapore and Malaysia’s financial intelligence units and law enforcement agencies are also building the technical capacity to trace cryptocurrency flows.

Related: Drift Protocol says $280M exploit took ‘months of deliberate preparation’ 

On April 1, Cambodian and Chinese officials captured Li Xiong, a leader of the Huione Group, an organization that served scam centers in Cambodia that carried out “pig butchering” frauds and other investment schemes to steal crypto from victims around the world. 

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Xiong was extradited to China, where he is set to face fraud and money-laundering charges. 

His extradition came three months after the arrest of Chen Zhi, the head of Prince Group, which operates Huione Group.

TRM reported in February that illicit entities received about $141 billion worth of stablecoins in 2025, marking a five-year high.

Magazine: Are DeFi devs liable for the illegal activity of others on their platforms?

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