Crypto Roundup: SEC Chair Pushes for Clear Rules, Circle Denies Bank Charter Pursuit, ARK Invest Predicts $2.4M Bitcoin

In today’s top crypto developments, newly appointed SEC Chair Paul Atkins made his first major remarks at the agency’s third crypto regulation roundtable, Circle clarified its regulatory intentions, and ARK Invest dramatically raised its long-term Bitcoin forecast.

SEC Chair Paul Atkins Advocates for Regulatory Clarity

Speaking at the SEC’s “Know Your Custodian” roundtable on April 25, Paul Atkins emphasized the transformative potential of blockchain technology, citing benefits such as cost reduction, improved transparency, and greater efficiency. He expressed a commitment to creating a “rational, fit-for-purpose” regulatory framework for digital assets, positioning himself in contrast to his predecessor, Gary Gensler, whose tenure was often criticized for regulatory uncertainty.

Atkins’ nomination by President Trump has sparked debate, with some critics alleging that his appointment signals a softer regulatory stance on crypto. Democratic senators raised concerns about possible conflicts of interest given Atkins’ perceived closeness to the industry.

Circle Shuts Down Banking License Rumors

Meanwhile, Circle’s chief strategy officer Dante Disparte publicly denied speculation that the company is pursuing a U.S. federal bank charter. In an April 25 post on X, Disparte clarified that Circle aims to comply with emerging stablecoin regulations, which may require alternative forms of licensing but not a full banking charter.

This statement followed reports suggesting that multiple crypto firms — including Circle, BitGo, Coinbase, and Paxos — were seeking banking licenses. Disparte urged lawmakers to provide regulatory clarity for stablecoins sooner rather than later.

ARK Invest Projects $2.4M Bitcoin by 2030

Cathie Wood’s ARK Invest has raised its most optimistic Bitcoin price target to $2.4 million by 2030. The bullish forecast is driven by anticipated institutional adoption and Bitcoin’s growing role as a “digital gold.” ARK also adjusted its base case to $1.2 million and bear case to $500,000 — significantly higher than its February projections.

According to ARK analyst David Puell, a 6.5% penetration of global financial assets — excluding gold — could support the bull case. In this scenario, Bitcoin would also capture up to 60% of gold’s market capitalization, leading to a total market value of $49.2 trillion, surpassing the current GDPs of the U.S. and China combined.