U.S. Securities and Exchange Commission Chair Paul Atkins announced a shift in the agency’s approach to cryptocurrency regulation. Under Atkins’ leadership, the SEC plans to adopt a more supportive stance compared to the previous administration. Atkins emphasized the use of existing rulemaking authorities to establish standards for digital assets. He criticized the prior approach, which he described as unadaptive and disingenuous, and highlighted the need for updated custody rules to allow self-custody under certain conditions. Atkins also suggested exploring exemptive relief for new crypto products and services. Industry leaders, such as Gene Hoffman of Chia Network, praised the SEC’s new direction as open-minded and business-friendly.
— new from The Block
