Atkins Backs Crypto in 401(k)s as SEC and CFTC Hold Regulation Harmonization Roundtable

SEC Chair Paul Atkins has backed limited crypto access in 401(k) plans. He spoke alongside CFTC Chair Mike Selig as regulators are convening for a SEC CFTC harmonization roundtable today. The discussion addressed retirement safeguards, jurisdictions, congressional coordination and how crypto regulation should advance through measured cooperation.

Atkins Views Ahead of the SEC CFTC Harmonization Roundtable

Atkins told CNBC, 401(k) plans could include crypto exposure if professional managers and trustees apply strict safeguards. However, he stressed that protections for retirees must guide every decision. According to Atkins, many Americans already hold indirect crypto exposure through professionally managed pension funds.

He explained that regulators now aim to extend similar access within 401(k) structures under tighter oversight. Notably, Atkins compared crypto access to existing exposure through private equity and private securities. He said trustees already manage those assets responsibly within retirement portfolios.

Addressing criticism from Senator Elizabeth Warren, Atkins acknowledged concerns about volatility and worker losses. However, he said structured access differs from direct retail investing. He emphasized that professional management remains central to the proposal.

To support his views, Atkins said the SEC intends to move carefully. He added that regulators must respect differences across markets. That caution, he said, reflects lessons learned from prior pension structures.

SEC and CFTC Shift to Coordination

The interview also addressed longstanding friction between the SEC and CFTC. Atkins described prior coordination as two regulatory fortresses separated by uncertainty. He said many products failed in that gap due to unclear oversight.

However, Atkins said both agencies now prioritize collaboration. He explained that regulators want to help firms innovate while meeting compliance requirements. According to Atkins, coordination should help products reach markets more efficiently.

CFTC Chair Mike Selig supported that view. He said jurisdictional gray areas created avoidable problems for market participants. However, he added that cooperation, or consolidation, could resolve those overlaps.

Selig said clear rules matter most for innovation. He also expressed support for pending legislation granting the CFTC authority over digital asset spot markets.

Congress, Market Structure and Delayed Policy Talks

Beyond retirement plans, Atkins discussed legislative coordination with Congress. He said the SEC has provided technical support to Senate Agriculture and Banking Committees for months. That assistance, he said, aims to help crypto market structure bills advance.

As per journalist Eleanor Terret, The Senate Agriculture Committee is convening now to mark up its portion of the CLARITY Act, with Chairman John Boozman opening the proceedings. 

Atkins addressed debate around the Clarity Act. He said the SEC stands ready to enforce whatever framework Congress approves. He added that negotiation remains necessary before final passage.

Meanwhile, both chairs confirmed a joint public meeting scheduled for today. The session followed a postponement from January 27. As per Mike Selig, in an X post, the meeting will focus on implementing the President’s digital asset policies.