The new SEC boss sees crypto-round tables as a great opportunity
In one of his first appearances as a recently sworn chairman of the US stock exchange supervision SEC, Paul Atkins gave a speech at the third round table of the authority on the subject of crypto regulation.
In the round table discussion under the motto “Know your Custodian” on April 25th said Atkins, he expects “enormous advantages” from blockchain technology through efficiency, risk reduction, transparency and cost reduction. He confirmed that one of his goals at the SEC consisted of creating “clear regulatory rules of the game” for digital assets, and pointed out that the authority under the former chairman Gary Gensler had contributed to market and regulatory uncertainty.
“I look forward to the exchange with the market participants and the cooperation with the colleagues in the government of President Trump and in the congress to create a reasonable, functional framework for crypto-assets,” emphasized Atkins.
Some critics of US President Donald Trump see the nomination of Atkins for the management of the SEC a favor against the crypto industry, which implements the election campaign promise to relieve Gensler-the former chairman stepped down on the day of Trump's start-up-and reducing the regulation. Democratic MPs in the Banking Committee of the Senate interviewed Atkins to his connections to the industry, which could possibly lead to conflicts of interest in regulating cryptocurrencies.
New tour at the Sec
“We found that we do not have to be so concerned (…) that we are accused of things that we do not do, such as being broker dealer for securities,” said Veronica McGregor, Chief Legal Officer from Exodus, who took part in the round table, on April 24th to CoinTelegraph. “It is simply a less scary regulatory environment in general. However, it is still unclear what the final regulations for crypto will look like.”
The SEC crypto-task force is to hold two further round table talks in May and June in order to discuss the tokenization or decentralized finance (Defi). Commissioner Hester Peirce, who heads the Task Force, told CoinTelegraph in March that they welcomed the opportunity to work with Atkins in order to “realign the authority”, indicating a SEC with more favorable regulations for the crypto industry.
In addition to the round table talks, the crypto-task force has reported several meetings with companies for digital assets in order to discuss various strategies and considerations on the development of a regulatory framework.
