The newly appointed SEC chairman, backed by President Trump, pledges a crackdown on crypto volatility with clear regulations, sparking industry tension.

The newly appointed chairman of the Securities and Exchange Commission (SEC) Paul Atkins, handpicked by President Donald Trump, has vowed to rein in the “wewardness” of cryptocurrency markets with a sweeping regulatory overhaul. In a speech delivered from the Oval Office, the chairman, a staunch advocate of “clear rules of the road,” signaled a hardline shift from the SECs recent turbulence, drawing cheers from Wall Street but unease from cryptos libertarian fringe.

“Investor protection is nonnegotiable,” he declared, flanked by his family and Trump administration officials. “The era of memecoins and regulatory ambiguity ends now.” The remarks targeted the explosive but chaotic growth of digital assets, now a $2 trillion industry where fraud allegations and wild speculation have overshadowed blockchains early promise.

The news comes amid increasing scrutiny over Bitcoin and Ethereum, and with the SEC preparing to reclassify even more tokens as securities, a move that could drive exchanges such as Coinbase into compliance or litigation. Meanwhile, Trump friendly Solana, host to a surge of politically charged memecoins, may face tighter oversight despite its Washington allies.

Crypto insiders are already bracing for impact. “This isnt just a policy shift, its a cultural rebuke,” said one hedge fund manager, noting the chairmans disdain for “politics in finance.” Yet critics warn the crackdown could stifle innovation, pushing developers toward offshore havens.

Read more: NFT Influencer’s Tweet Sparks Volatility in AI Cryptocurrency Markets

With Trumps economic agenda at stake, the SECs new chief faces a high wire act: restoring order without alienating the very markets fueling Americas tech dominance. One things certain, the crypto wild west just got a sheriff.