On April 25, 2025, the SEC convened its inaugural Crypto Task Force roundtable in Washington, D.C. The newly appointed SEC Chair Paul Atkins remarked, “The market itself seems to indicate that the current framework badly needs attention.”

This work is vital as entrepreneurs in the U.S. leverage blockchain technology to enhance elements of our financial framework. Atkins expressed, “I foresee significant advantages stemming from this market innovation in terms of efficiency, reduced costs, transparency, and risk management.”

Furthermore, he stated, “Market participants engaging with this technology deserve clear regulatory guidelines. Innovation has been hampered for years due to the uncertainty that the SEC has contributed to.”

This roundtable symbolizes a shift from the aggressive enforcement strategies of Atkins’ predecessor, Gary Gensler.

Atkins commended SEC Commissioner Hester M. Peirce for her persistent advocacy for sensible crypto policies, earning her the nickname “Crypto Mom”. He acknowledged, “It is no wonder that she has earned the title of ‘Crypto Mom.’”

Peirce emphasized the need for the SEC to recognize blockchain’s potential to empower investors through self-custody and trading, warning against regulatory frameworks that impede innovation.

The roundtable also spotlighted the essential topic of digital asset custody, a critical issue for crypto firms aiming to adhere to securities regulations. Commissioner Caroline A. Crenshaw raised concerns regarding whether the SEC could maintain robust investor protections if it were to implement a dual-regime for crypto custody.

Atkins was recently sworn in as the 34th Chair of the SEC on April 21, 2025, indicating a strategic pivot towards a more crypto-friendly regulatory framework. He assured that Bitcoin and cryptocurrency would be top priorities under his leadership, advising, “As I return to the SEC, I am eager to collaborate with my fellow Commissioners and dedicated professionals to achieve our aim: to ensure that the U.S. remains the premier and safest place globally for investment and business.”

Key Points

• The SEC’s Crypto Task Force tackled pivotal issues regarding digital asset custody, addressing longstanding challenges for compliance with federal laws.
• The main topic revolved around crypto custody, illustrating the balance between investor protection and innovation.

In summary, the SEC’s roundtable underscores vital discussions about the future of cryptocurrency regulation in the United States.