At the SEC roundtable focused on digital asset regulation, Chair Paul Atkins criticized the previous administration and highlighted the importance of self-custody.
Criticism of the Previous Administration
During the SEC's roundtable, Paul Atkins addressed the heavy-handed approach to crypto regulation under former Chair Gary Gensler, stating that it negatively impacted innovations in the digital asset space.
Flexibility for Market Participants
Atkins emphasized the need for the SEC to provide greater flexibility regarding self-custody of crypto assets, particularly when intermediation incurs unnecessary transaction costs. 'I'm in favor of affording greater flexibility to market participants to self-custody crypto assets,' he stated.
Changes Under the New Administration
Since President Donald Trump's administration began, the SEC has shown a different approach to digital assets. For example, in February, the SEC agreed to drop a lawsuit against Coinbase, and shortly after, Ripple CEO Brad Garlinghouse announced that the SEC would drop its appeal in a related case.
The SEC roundtable served as a platform to discuss key issues in crypto regulation and assess new approaches under the leadership of Paul Atkins and the new administration.
