Paul Atkins: ‘Time to begin discussions on allowing crypto investments in retirement plans’

Paul Atkins, chair of the U.S. Securities and Exchange Commission (SEC), said on the 29th (local time) that it is “time to seriously discuss allowing retirement plans to invest in cryptocurrencies.”

In an interview with CNBC that day, Atkins said, “Many Americans are already indirectly exposed to crypto-related assets through pensions or funds.” He added that the current debate is about “whether accessibility to (cryptocurrencies) can be expanded by having regulated investment products such as 401(k)s managed by professional asset managers,” and said that “if the Clarity Act passes, it could open the way (for that approach).”

Regarding controversy surrounding U.S. crypto-related legislation such as the Clarity Act, he said, “We are ready to enforce the rules agreed by Congress.” Atkins noted, “Congress always needs a process of negotiation and coordination,” adding, “The SEC is providing technical support to the (U.S. Senate) Agriculture Committee and the Banking Committee, and is helping in practical terms so the bill can cross the finish line.” He said, “What matters is building a crypto market structure that actually works, regardless of party.”

Michael Selig, a commissioner at the Commodity Futures Trading Commission (CFTC), mentioned ways to cooperate with the SEC in the interview. Selig said, “In reality, many problems have arisen in the gray areas where the two agencies’ jurisdictions overlap,” adding, “What matters is helping market participants continue innovating under clear rules—whether through (agency) consolidation or cooperation.”