The head of the US SEC drops a bombshell: Is cryptocurrency about to become the new foundation of finance?

SEC Chairman Paul Atkins recently made a bold statement in an interview—crypto assets like Bitcoin will become the underlying infrastructure of the global financial system in the coming years. His exact words were, "This is the direction the world is heading."

This isn't just empty talk. If you look at recent regulatory moves, it's clear that traditional finance is being pushed onto the blockchain, especially securities assets. Simply put, the plan is to move the entire existing system onto the blockchain.

Atkins used an interesting analogy: this is like when music shifted from vinyl records to MP3s. Blockchain technology, with the help of smart contracts, can make rights distribution crystal clear and unlock assets that were previously hard to trade. Issuance, trading, holding—the entire process will be restructured, just like digital audio revolutionized physical records.

This transformation is much more than just tokenizing assets. Some experts predict that within the next two years, all US markets could be running on-chain, with settlements also completed on-chain. Blockchain can make asset ownership incredibly transparent—something traditional systems can't achieve.

Of course, regulation won't be absent. The SEC has clearly stated that it will move away from the old approach of "regulation by enforcement." They're focusing on three things: first, modifying traditional registration forms to provide clear guidelines for crypto asset issuance; second, eliminating restrictive custody accounting rules and clarifying standards for "qualified custodians"; third, supporting brokerages in building integrated platforms where securities and crypto assets can be traded in one place.

The purpose behind these moves is clear—to strengthen the US's voice in the global crypto space.

Back to Bitcoin itself. Although it's highly volatile and speculative, it has been clearly defined as a non-security, positioning it more as a store of value. As the leader of the crypto market, this classification is significant.

Overall, regulators are building a framework that leaves room for innovation while keeping risks under control. The path for traditional finance to transition to crypto technology is becoming increasingly clear.