SEC Chair Paul Atkins has proven a change within the company’s strategy to cryptocurrency regulation. During his opening remarks on the third roundtable of the SEC’s Crypto Task Force, he acknowledged that “innovation has been stifled for the last several years due to market and regulatory uncertainty that, unfortunately, the SEC has fostered.”
Paul Atkins shares his imaginative and prescient for crypto regulation
Speaking simply 4 days into his tenure as SEC Chair at his first ever SEC crypto roundtable, Atkins expressed eagerness to deal with “long festering issues such as the regulatory treatment of digital assets and distributed ledger technologies” in collaboration with fellow commissioners, employees, and thru exterior enter from trade members. The roundtable particularly addressed challenges that SEC registrants face when trying to custody crypto property for patrons in compliance with federal securities legal guidelines.
JUST IN: 🇺🇸 Opening remarks and first public tackle by the brand new SEC Chairman Paul S. Atkins on the Crypto Task Force Roundtable – Know Your Custodian: Key Considerations for Crypto Custody. ▶️👇🏼 pic.twitter.com/mabCJOjCYq
— Subjective Views (@subjectiveviews) April 25, 2025
In his address, Chairman Atkins shared a imaginative and prescient for establishing what he termed a “rational fit-for-purpose framework for crypto assets.” This strategy is a serious change from the SEC’s earlier regulatory stance underneath former management.
Atkins particularly praised Commissioner Hester Peirce, broadly generally known as “crypto mom,” for her “principled and tireless advocacy for common sense crypto policy within the United States.” He acknowledged that Peirce is “certainly the right person to lead the effort to come up with a rational regulatory framework for crypto assets in their markets.”
The Chairman expressed optimism about blockchain expertise’s potential advantages. He acknowledged, “I expect huge benefits from this market innovation in terms of efficiency, cost reduction, transparency, and risk mitigation.”
Atkins additionally inquired about whether or not the present “special-purpose broker-dealer” mannequin advantages market members or whether or not it wants a brand new mannequin for crypto asset broker-dealers. According to him, the market itself appears to recommend that the present construction adversely requires consideration. He alludes to the likelihood that the SEC underneath his tenure might have collaborated extra with the crypto sector. His assertion comes four days after he was sworn in as SEC chair.
Vignesh Karunanidhi
Vignesh Karunanidhi is a seasoned crypto journalist with almost 7 years of expertise within the cryptocurrency trade. He has contributed to quite a few publications, together with WatcherGuru, BeInCrypto, Milkroad, and authored over 10,000 articles
Disclaimer: The offered content material could embody the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty on your private monetary loss.
