New SEC Chair Paul Atkins Indicates Agency Can Act on Crypto Policy Now
Paul Atkins, the new chairman of the U.S. Securities and Exchange Commission (SEC), emphasized support for digital asset innovation during his first public event. Key points from his speech include:
- Atkins aims to develop a "rational, fit-for-purpose framework" for crypto while awaiting congressional action on market-structure oversight.
- He indicated that the SEC can still take action under existing rules before new laws are established.
- Atkins mentioned the potential need to reconsider special-purpose crypto broker dealers and adjust custody rules for crypto assets and blockchain technology.
- His leadership follows interim chairman Mark Uyeda's efforts to reverse previous restrictive policies under former chair Gary Gensler.
- The roundtable focused on crypto custody, an area previously contentious under Gensler's administration.
Atkins has a background in advising crypto entities and investing in digital asset firms. His leadership is anticipated to shift the regulatory landscape for cryptocurrencies significantly.