Paul Atkins today, in his first public appearance as the head of the U.S. Securities and Exchange Commission (SEC), chose to participate in a roundtable on the crypto industry, held at the agency's headquarters in Washington. Atkins dedicated his initial speech to affirming that the agency will continue to work on developing supportive policies for innovation in the digital asset space, emphasizing that the agency does not need to wait for Congress to intervene to impose new regulations, as current laws provide sufficient room for maneuvering.
Atkins clarified that the agency will reconsider the policies regarding 'private crypto brokers', a rare registration model represented by companies like 'Prometheum', and will also consider amending custody rules to better accommodate digital assets and blockchain technology.
This appearance came days after he took his oath at the White House, where President Trump described him as the ideal man to lead the agency at a time when the digital asset industry needs regulatory clarity, which Atkins confirmed by stating that providing a strong regulatory foundation will be a top priority for him during his presidency.
The crypto industry welcomed Atkins' appointment with great optimism, especially after the interim president Mark Uyeda's tenure saw a notable retreat from the stringent policies of former president Gary Gensler, including the halting of many enforcement actions against crypto companies.
This optimism is based on Atkins' professional background, as he previously worked as an advisor to companies specializing in digital assets like the Digital Chamber, and was a board member of Securitize, while also having connections with Off the Chain Capital, which invested in prominent entities like Digital Currency Group and Kraken.
The recent roundtable focused on the topic of custody in the crypto industry, a complex file that the agency had attempted to address during Gensler's tenure by proposing rules that would require investment advisors to use only qualified custodians to hold digital assets, aiming to exclude most existing platforms; however, this attempt was later halted.
At the end of his appearance, Atkins was asked about President Trump's connection to the crypto industry and the meme cryptocurrency $TRUMP , and its impact on the White House's credibility in setting crypto policies, but he declined to comment on the matter.
