SEC leader's first public speech promises security for the Cryptocurrency market! What did he say? - Coin Bulletin

SEC Chairman Paul Atkins, in a statement made on his fourth day in office, promised a more innovation-friendly and risk-reducing regulation for digital assets.

The new chairman of the U.S. Securities and Exchange Commission, Paul Atkins, made his first public speech in office at a roundtable meeting on cryptocurrencies. Atkins stated that they would work with Congress and the Trump administration to create a "reasonable and targeted" regulatory framework for digital assets. This statement indicates that a significant change has begun in the SEC's stance towards cryptocurrency.

Atkins criticized the SEC's stringent approach during the Biden administration, stating that innovation and industry development have been stifled for years due to "unnecessary regulatory uncertainty." The new president emphasized that digital assets have the potential to reduce risks and lower costs. He also indicated that the SEC could take action on issues such as crypto custody and broker-dealer licenses without waiting for new legislation, using its existing legal authority.

(# A brand new regulatory approach for crypto

Paul Atkins announced that the SEC is preparing to modernize its crypto asset custody rules. In particular, he stated that the controversial custody rules that emerged during the Biden administration, which aimed to shut down most crypto platforms, will now be re-evaluated. Atkins' message has increased expectations for clearer, more transparent, and supportive regulation in the crypto sector.

The new SEC Chairman's goal of a "suitable and purpose-driven" regulation for digital assets has created great excitement in the sector.