$BTC New SEC Chairman Announces New Direction for Crypto Management

At the 4th meeting of the Crypto Task Force, SEC Chairman Paul Atkins announced a major shift in the agency's approach to the crypto market - ending the 'policy by litigation' approach used during Gensler's time.

Notable points:

- The SEC will use its existing authority to issue clear, transparent regulations, rather than handling issues ambiguously.

- 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' speech, many companies in the industry believe that the SEC under new leadership is ready to listen and accompany the market. Instead of just focusing on risks, the agency is starting to embrace the opportunities that public, decentralized blockchain offers to investors.