#CryptoRoundTableRemarks DeFi Summer Ignites as SEC Proposes “Innovation Exemption” in Groundbreaking Remarks

**June 11, 2025** — Ethereum and DeFi tokens skyrocketed hours after SEC Chairman Paul Atkins’ June 9 “DeFi and the American Spirit” roundtable, where he endorsed self-custody as a “foundational right” and floated regulatory exemptions for decentralized projects. The market surge signals investor relief after years of enforcement-centric policy .

### The New DeFi Playbook

Atkins’ speech marked a philosophical pivot:

- **Code ≠ Crime:** Engineers “merely publishing code” won’t face liability, separating software development from illicit financial activity .

- **Conditional Relief:** An “innovation exemption” would let projects launch faster if they meet transparency and anti-fraud standards, bypassing outdated rules .

- **Anti-Custody Stance:** “The right to self-custody private property is core to American values,” Atkins declared, rejecting forced third-party holds on crypto .

The effect was immediate: Ethereum jumped 8% to $2,750, while Aave (15%) and Uniswap (25%) led DeFi gains. Spot ETH ETFs saw $53M inflows as DeFi’s market cap hit $150B—a 10% single-day leap .

Skepticism in the Ranks

Commissioner Hester Peirce tempered the optimism, warning that “DeFi” labels can’t excuse centralization. “We must hold accountable entities controlling user assets,” she stated, while defending developers’ First Amendment rights .

The move aligns with Congressional action. The House advanced the CLARITY Act—exempting non-custodial blockchain developers from money-transmitter rules—while Senate GOP leaders fast-tracked stablecoin legislation. Critics, including Sen. Maxine Waters, accused Republicans of enabling Trump’s crypto ventures, citing his family’s involvement in projects like “World Liberty Financial” .