Joyce Remarks at Oversight Hearing of the U.S. Securities and Exchange Commission

I would like to thank Chairman Atkins for being here today and for his leadership at the SEC. Established in 1934, the Securities and Exchange Commission is the primary federal regulatory agency responsible for enforcing U.S. securities laws. The Commission has a three-part mission: protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation. The SEC has played a critical in helping American capital markets become the most robust and attractive of any in the entire world.

If our capital markets are to remain the “envy of the world”, we need to encourage capital formation and ease regulatory burdens that make it more difficult for businesses to grow. Too often, past leadership at the SEC has implemented sweeping regulations without considering public feedback or carefully weighing the costs and benefits.  I’m glad to see the Commission has already taken steps to roll back some of these regulations that would have made American companies less competitive in an ever-changing global economy. 

In addition, advancements in blockchain technologies and digital assets also present an incredible opportunity for American entrepreneurs, businesses, and our economy. If we don’t take the lead in making the United States a hub for digital asset innovation, our global competitors will. Markets thrive the most when they can rely on regulatory fairness and certainty. “Regulation by enforcement” is not just unfair, it is counterproductive. It also ignores Congress and the legal limits it places on regulatory bodies. 

As lawmakers continue bipartisan conversations around market structure frameworks and digital assets more broadly, the SEC and other regulators should work to provide as much clarity to market participants as possible. To that end, the newly created Crypto Task Force at the SEC has provided a forum for regulators, innovators, and market participants to collaborate and provide recommendations on regulatory framework for the digital asset ecosystem. I’m looking forward to hearing more about the task force’s progress so far and how we as appropriators can support their continued work.

Chairman Atkins, thank you for your willingness to serve. Your decades of experience, both at the SEC and in the private sector, make you the right person to lead the SEC at this important time. I look forward to hearing from you about your vision for the SEC and the Commission’s budget priorities as we look forward to FY 2026.