SEC Chair Paul Atkins Rejects CFTC Role Amid SEC-CFTC Crypto Coordination

SEC Chair Paul Atkins has firmly rejected speculation that he could step in as chair of the Commodity Futures Trading Commission (CFTC). Despite his name surfacing in discussions, Atkins stressed he has no interest in holding two positions.

Atkins Rejects CFTC Role, Pushes Clearer Crypto Rules and Agency Harmony

Speaking in a new interview, Atkins said he is focused on aligning the work of regulators, not taking on another role. Atkins’ comments come as Washington circles debate who will lead the CFTC after the administration’s original nominee stalled.

President Trump is now considering a new CFTC chair pick amid tensions over the nomination process. He argued that the real issue is building cooperation between the agencies to create consistent oversight for markets.

“Thanks but no thanks,” he remarked, adding that harmonization between the SEC and CFTC is the path forward, not a merger. The SEC chair also discussed broader reforms shaping U.S. financial markets. He acknowledged that Congress is preparing legislation that would shift some oversight of crypto assets to the CFTC.

Atkins said the SEC should not be seen as the “Securities and Everything Commission” and welcomed clearer rules that define what counts as a security.

In particular, he criticized reliance on the decades-old Howey test, which determines whether certain assets fall under securities law. “The Howey test is very vague,” Atkins said. “It’s a ‘you know it when you see it’ problem. Guidance from Congress would be very helpful”.

Atkins Prioritizes SEC Reforms as White House Pushes Market Changes

Atkins also pointed to the White House’s pressure for market structure legislation by the end of the year. He noted President Trump made that demand clear during the signing of the GENIUS Act. This is a sign that there is strong political momentum behind the regulatory change.

His rejection of the CFTC role may ease concerns about leadership conflicts, especially as the SEC and CFTC prepare a joint roundtable aimed at harmonizing their crypto regulatory frameworks. It shows he is focused on leading the SEC into a new era, where, market participants have a better perspective about the agency compared to the previous regime.

Beyond crypto, Atkins is moving to reshape rules for public companies. He wants to reduce quarterly reporting requirements, an idea that has long circulated in policy circles. His broader goal is to restore confidence in public markets and encourage more companies to pursue IPOs.