New SEC chairman Seeks Clarity for Crypto Industry
Paul Atkins, the new U.S. Securities and Exchange Commission (SEC) Chairman, has criticized the agency’s past approach. In his first public speech as chair,Atkins spoke at the SEC’s crypto roundtable in Washington DC. He blamed the previous management for creating “uncertainty” in the market.
Atkins argues that innovation has suffered due to regulatory confusion. “The SEC’s actions over the last four years have hindered progress,” he stated. He aims to collaborate with Congress and the Trump administration to establish clear regulations. “We need a rational framework to promote digital assets and manage risks,” he explained.
Atkins took office this week, replacing Gary Gensler, who was known for his anti-crypto stance. Under Gensler, the SEC filed lawsuits against major crypto firms like Coinbase and Binance. However, interim chair Mark Uyeda ended many investigations and withdrew most cases, including the Ripple lawsuit.
Atkins believes in a “fit for purpose” regulatory approach. He wants to work with lawmakers to foster growth. “We must provide a clear path for the crypto sector,” he said. This shift comes as a relief to the industry. He wants to encourage innovation and reduce market uncertainty.
Atkins plans to use roundtables to gather insights for better regulation. The “No Your Custodian” roundtable is the third of five planned discussions. These events aim to create a supportive environment for digital assets.
