#CryptoRoundTableRemarks New SEC Chairman Announces New Direction for Crypto Regulation

At the 4th meeting of the Crypto Task Force, SEC Chairman Paul Atkins announced a major shift in how the agency approaches the crypto market - ending the approach of 'making policy through litigation' as seen during Gensler's tenure.

Key points:

- The SEC will use its existing authority to issue clear, transparent regulations, instead of handling issues in a vague manner

- Develop specific guidelines to classify which digital assets are securities

- Consider allowing self-custody of digital assets for funds and financial advisors (under certain conditions)

- Research conditional exemptions for projects wanting to test new products that do not fit within the old legal framework

After Atkins' remarks, many companies in the industry noted that the SEC under new leadership is ready to listen and collaborate with the market. Instead of only focusing on risks, the agency is beginning to embrace the opportunities that public, decentralized blockchain brings to investors.