The Digital Chamber’s Token Alliance has urged the U.S. Securities and Exchange Commission (SEC) to review all crypto-related investigations, Wells notices, and lawsuits from the start of the incoming Trump administration.

The advocacy group sees this as a chance to rebuild trust between the SEC and the digital asset industry, emphasizing the need for mutual respect and accountability.

Paul Atkins, Trump’s nominee for SEC chair, is an advisory board member of the Token Alliance. The group issued a statement on Dec. 18, calling for a reset in the regulator’s approach, which has been criticized for creating friction with the industry.

The recommendations include pausing ongoing litigation that doesn’t involve fraud or imminent harm, revisiting the application of the Howey test, and rescinding reliance on the 2018 Hinman speech, which the group claims has unfairly favored certain market participants.

The advocacy group also urged the repeal of Staff Accounting Bulletin 121 (SAB 121), which requires crypto custodians to record assets as liabilities, arguing that it burdens market participants and could drive investors to riskier offshore options.

The group called for reconsideration of proposed Rule 3b-16, which would broaden the definition of “exchanges” to include decentralized finance protocols.

Outgoing SEC Chair Gary Gensler, seen as a proponent of a regulation-by-enforcement approach, is set to step down on Jan. 20, with Paul Atkins expected to replace him.

The SEC has ongoing legal battles with Binance, Coinbase, Ripple, and others, as well as pending Wells notices to Uniswap and Immutable.

Token Alliance leadership has presented its policy priorities to SEC commissioners Hester Peirce and Mark Uyeda, urging the agency to foster a regulatory environment that balances oversight with innovation.

The group’s recommendations could gain traction under Atkins, given his ties to the advocacy organization and his past role as an SEC commissioner.

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