Paul Atkins Leads SEC Crypto Roundtable, Promises Innovation-Friendly Policies
Paul Atkins’ first public event as chairman of the U.S. Securities and Exchange Commission was a crypto roundtable on Friday, where the new agency chief devoted his inaugural speech to assuring the industry that he’ll continue to remake securities policy to favor digital assets innovation.
Building a Framework for Crypto Market Oversight
The agency and industry have been awaiting congressional action to establish crypto market-structure oversight that will likely set guardrails, and Atkins told an audience at the SEC’s Washington headquarters that the regulator will work toward delivering “a rational, fit-for-purpose framework” for crypto.
Promoting Regulatory Clarity for Digital Assets
Atkins indicated that the agency may be able to act to some degree during the wait for new laws. He mentioned the success of special-purpose crypto broker dealers and suggested that custody rules may need to be adapted to accommodate crypto assets and blockchain technology.
Atkins, who was sworn in at the White House earlier in the week, emphasized that providing a firm regulatory foundation for digital assets is a top priority for his chairmanship.
Industry Hopes for Atkins’ Leadership
The crypto sector has high hopes for Atkins, given his background advising and investing in digital assets firms. As the new chairman, Atkins is expected to continue the SEC’s shift towards more innovation-friendly policies in the crypto space.
Focus on Crypto Custody
The roundtable discussion focused on custody in the industry, a topic that has been contentious at the SEC. Under Gensler’s leadership, the agency sought to impose strict custody rules for digital assets, but these efforts were put on hold. Atkins will be reevaluating the approach to crypto custody to ensure it aligns with industry needs.
Overall, Atkins’ leadership is seen as a positive development for the crypto industry, with expectations of more progressive and supportive regulatory measures under his chairmanship.