SEC Chair Paul Atkins Warns on Crypto Oversight Turning Blockchain Into Mass Financial Surveillance

SEC Chair Paul Atkins, speaking at an SEC Crypto Task Force roundtable, warned that expanding government oversight could turn blockchain and crypto systems into a financial surveillance tool. He argued that treating every wallet as a broker and every transaction as reportable risks creating a financial panopticon, and called for a regulatory framework that protects lawful activity and individual privacy while still allowing innovation.