SEC chair suggests 'huge benefits' in agency's third crypto roundtable

Turner Wright 2 minutes ago SEC chair suggests 'huge benefits' in agency's third crypto roundtable The roundtable event on crypto custody marked one of the first times Paul Atkins spoke as the new chair of the SEC since being sworn in on April 21. 27 Total views Listen to article 0:00 News COINTELEGRAPH IN YOUR SOCIAL FEED In one of his first appearances as the recently sworn-in chair of the US Securities and Exchange Commission, Paul Atkins delivered remarks to the agency’s third roundtable discussion of crypto regulation. In the “Know Your Custodian” roundtable event on April 25, Atkins said he expected “huge benefits” from blockchain technology through efficiency, risk mitigation, transparency, and cutting costs. He reiterated that among his goals at the SEC would be to facilitate “clear regulatory rules of the road” for digital assets, hinting that the agency under former chair Gary Gensler had contributed to market and regulatory uncertainty. “I look forward to engaging with market participants and working with colleagues in President Trump’s administration and Congress to establish a rational fit-for-purpose framework for crypto assets,” said Atkins. SEC chair Paul Atkins addressing the April 25 crypto roundtable. Source: SEC Some critics of US President Donald Trump see Atkins’ nomination to lead the SEC as a nod to the crypto industry, acting on campaign promises to remove Gensler — the former chair resigned the day Trump took office — and cut back on regulation. Democratic lawmakers on the Senate Banking Committee questioned Atkins on his ties to the industry, potentially presenting conflicts of interest in his role regulating crypto. Related: Atkins SEC era sparks massive industry optimism, crypto execs speak out The direction of the SEC under new leadership “We’ve noticed that we don’t have to be as concerned [...] about being accused of things that we’re not doing, like being broker-dealers for securities,” Exodus chief legal officer Veronica McGregor, who participated in the roundtable, told Cointelegraph on April 24.”It’s just a less scary regulatory environment in general. It is, however, still unclear what the ultimate regs are going to look like for crypto.” The SEC crypto task force is scheduled to hold two more roundtables in May and June to discuss tokenization and decentralized finance, respectively. Commissioner Hester Peirce, who leads the task force, told Cointelegraph in March that she welcomed the opportunity to work with Atkins to “reorient the agency,” hinting at an SEC with regulations more favorable to the crypto industry. In addition to the roundtables, the crypto task force has reported several meetings with digital asset firms to discuss various policies and considerations in developing a regulatory framework. Magazine: SEC’s U-turn on crypto leaves key questions unanswered # Cryptocurrencies # Politics # SEC # Regulation # Self Custody Add reaction