#CryptoRoundTableRemarks SEC Chair Paul Atkins said on Friday that innovations in the cryptocurrency industry "have been stifled over the past few years," and that changes are urgently needed.

"The market itself seems to indicate that the current structure is in dire need of attention," Atkins said at a roundtable organized by the newly formed SEC Cryptocurrency Working Group.

Leaders from the cryptocurrency sector, regulators, and legal experts were present to discuss primarily issues surrounding custody, or the protection of digital assets.

Atkins delivered opening remarks alongside SEC commissioners Caroline Crenshaw, Mark Uyeda, and Hester Peirce. The group is trying to set the tone for a new era of cryptocurrency regulation aimed at shifting the approach from adversarial to collaborative.

Atkins told reporters in the corridors of the session that he is open to a broad review of rules related to cryptocurrency.