Important Insights:
- Paul Atkins emphasized the SEC’s commitment to revising its crypto-related policies during his inaugural speech as SEC chairman, focusing on five planned roundtables about the industry.
- He mentioned that the SEC plans to rethink its policies regarding special-purpose crypto broker dealers and custody rules while leveraging existing authorities amidst awaiting congressional legislation.
In his first public engagement as chairman of the U.S. SEC, Paul Atkins led a roundtable discussing the future of crypto policy. During the event, he reassured those in attendance that he intends to create a more favorable regulatory environment for digital asset innovation. The SEC has been awaiting new laws to provide a more structured approach to crypto market regulations.
Atkins advocated for a “rational, fit-for-purpose framework” for crypto, outlining the potential for the SEC to act even before new legislation is in place. He remarked, “It’s always good to have Congress’ input… but we have ample room to maneuver under existing rules and laws.”
The chairman also highlighted the ongoing examination of special-purpose crypto broker dealers and custody requirements, noting that adjustments may be necessary to support blockchain technology and digital assets.
The event marked Atkins’s full engagement with the public since taking office, following an earlier swearing-in ceremony where support for his leadership was voiced.
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Atkins’s position has raised expectations in the crypto sector, especially after previous leader Gary Gensler’s restrictive approaches. The Wednesday roundtable was the third in an ongoing series focussing on crypto regulations.
Atkins was asked about President Trump’s interest in crypto and whether it could undermine the credibility of industry regulations, to which he declined to comment.
