SEC Chairman unexpectedly supports the right to self-custody of Bitcoin: A major signal of change in US cryptocurrency management policy?
In a move that left the cryptocurrency market astonished, the Chairman of the U.S. Securities and Exchange Commission (SEC) – Mr. Paul Atkins – publicly supported the right to self-custody of digital assets like Bitcoin at the roundtable conference of the cryptocurrency task force organized by the SEC itself. This is not only a symbolic statement but also a clear sign of a new direction in the strategy for managing digital assets in the United States.
If what Mr. Atkins stated is true, then the SEC – an agency once notorious for being "excessively strict" with the crypto industry – may be ready to abandon its outdated suppression strategy to enter a new era: prioritizing innovation, encouraging self-governance, and accepting self-custody mechanisms.
Self-custody – the core of the decentralization spirit
Mr. Atkins' statement has made many in the crypto community feel "unshackled". He said:
"The right to self-manage one’s own assets is a fundamental value of Americans and should not be lost when someone logs onto the Internet."
A brief but weighty statement. It not only refers to Bitcoin or Ethereum but touches the core essence of blockchain and digital assets: the right to control personal assets without the need for intermediaries.
Self-custody – meaning users hold and manage their assets without the need for a third party (centralized exchanges, banks, or custodial organizations) – has long been a foundational philosophy in the crypto world. However, for nearly a decade, it has been viewed as a "potential threat" by regulators accustomed to centralized control models.
But now, when the SEC Chairman himself announces support for this model, it's a major turnaround. And the question arises: Is the SEC really changing, or is this just a political "smoke and mirrors"?
From oppressor to ally?
Recall what has happened over the past years: the SEC under Gary Gensler has become a nightmare for cryptocurrency companies. From Ripple, Coinbase, Binance to Uniswap – a series of lawsuits were initiated, many projects were stalled, and numerous companies had to flee the US market.
Many experts have accused the SEC of using the strategy of "regulation by enforcement" – that is, not providing clear laws but using legal action to impose its views.
Therefore, Paul Atkins' statement today is groundbreaking. He bluntly criticized the SEC's previous approach as stifling innovation rather than facilitating technological development. According to him, empowering self-custody will not only protect personal freedoms but also stimulate traditional institutions to engage in the blockchain space with a more open mindset.
Is the policy change really feasible?
However, the support of an individual – even if it's the SEC Chairman – cannot change the landscape overnight. It must be understood that the SEC is a complex agency, and any policy change must go through many layers of legal, political, and pressure from interest groups.
But anyway, Mr. Atkins' announcement of the establishment of the cryptocurrency task force is also a notable signal. This group will focus on new regulations related to tokenization, digital assets, DeFi, and self-custody – indicating that the SEC is somewhat accepting that: cryptocurrency is an entity that cannot be eliminated, but must be integrated into the modern financial system.
How did the market react?
Immediately after the announcement, market sentiment seems to have positively changed. Although there hasn't been a significant price increase right away, analysts believe that investor sentiment has begun to shift from caution to expectation.
High-decentralization altcoins or those linked with the self-custody mechanism – like Monero, Zcash, or decentralized wallet platforms like MetaMask, Ledger – may receive more attention in the coming weeks.
In particular, Bitcoin – a symbol of financial freedom and decentralization – is clearly the direct beneficiary of this statement.
A far-sighted view for the global financial market
The issue is not just in the United States. When a powerful agency like the SEC begins to turn around, other regulators around the world – from the EU to Asia – will certainly be watching closely. A wave of policy adjustments could occur widely, especially if the US establishes a clear and innovation-friendly legal framework.
The world is entering an era of decentralized finance, and the game is no longer just about technology. Whoever controls the rules of the game controls the future.
Conclusion: A new era for crypto in the US?
The statement supporting self-custody rights by SEC Chairman Paul Atkins could be considered a historical milestone if accompanied by specific actions. However, the crypto community should not be overly optimistic. There are still legal barriers, and there are still strong opposing forces within the traditional financial system.
But anyway, this is a clear signal that the battle is no longer black and white, legal and illegal, but has shifted to a stage of negotiation and adjustment. And if done correctly, it could open the door for cooperation between innovators and regulators – something the market needs more than ever.
Self-custody is not just a technical solution. It is a declaration of financial freedom. And for the first time, the SEC seems to be starting to listen.
