#CryptoRoundTableRemarks

The recent SEC Crypto Roundtable discussion, led by Chairman Paul Atkins, focused on regulatory challenges surrounding crypto asset custody. Key remarks include ¹ ²:

- *Support for Self-Custody*: Chairman Atkins emphasized the importance of self-custody for crypto assets, citing it as a "foundational American value". He advocates for greater flexibility in this area, especially when intermediation imposes unnecessary costs or restrictions.

- *Regulatory Framework*: Atkins expressed the need for clear regulatory guidelines to facilitate innovation in the crypto space. He directed the staff to explore potential amendments to existing rules and consider a conditional exemptive relief framework for DeFi platforms.#

- *DeFi and American Spirit*: The roundtable discussion highlighted the alignment of DeFi principles with American values such as economic liberty and private property rights. Atkins believes that blockchain technology can modernize financial systems, promoting efficiency, transparency, and risk mitigation.

*Key Takeaways:*#

- *Custody Rules*: The SEC is considering changes to custody rules under the Exchange Act, Advisers Act, or Investment Company Act to accommodate crypto assets and blockchain technology.#

- *Innovation Exemption*: Atkins proposed an "innovation exemption" to allow registrants and non-registrants to bring on-chain products and services to market, potentially fostering growth in the DeFi space.#

- *Market Reaction*: Following Atkins' remarks, DeFi tokens such as Compound (COMP), Uniswap (UNI), and Aave (AAVE) surged, with some experiencing double-digit gains.