In his first public address since being sworn in as the U.S. Securities and Exchange Commission (SEC) Chair earlier this week, Paul Atkins emphasized the urgent need for clear and rational regulatory frameworks for the cryptocurrency sector. Speaking at the SEC’s crypto roundtable on April 25, 2025, Atkins criticized the agency’s previous approach for creating “regulatory uncertainty” that has stifled innovation within the crypto industry over recent years.
Atkins reaffirmed his commitment to working closely with market participants, Congress, and the Trump administration to develop “fit-for-purpose” rules tailored to digital assets. He expressed optimism about the “huge benefits” that the emergence of cryptocurrencies and blockchain technology could bring to the financial ecosystem, underscoring his long-standing pro-crypto stance now reflected in his leadership priorities.
This roundtable, titled “Know Your Custodian: Key Considerations for Crypto Custody,” marked a significant moment in the SEC’s evolving regulatory posture. It brought together industry leaders and regulatory officials to address challenges around crypto custody-how digital assets are stored and protected-which has been a contentious issue due to the lack of clear guidelines and the risks posed by hacks and security breaches.
Atkins also indicated that the SEC does not need to wait for new legislation from Congress to begin adapting its regulatory framework. He suggested the agency has sufficient authority under existing laws to move forward with reforms, including reconsidering special-purpose crypto broker-dealer registrations and custody rules to better accommodate blockchain technology.
The new SEC leadership under Atkins signals a broader shift in U.S. crypto policy aligned with President Donald Trump’s administration, which has reversed previous skepticism and taken steps to support the industry, including executive actions and pardons related to crypto figures. The SEC has already begun rolling back some restrictive regulations from the prior regime, such as revoking rules that hindered institutional crypto adoption and clarifying that certain stablecoins do not fall under SEC jurisdiction.
Overall, Atkins’ remarks and the SEC’s recent roundtables reflect a move away from an adversarial enforcement-heavy approach toward a more collaborative, innovation-friendly regulatory environment. The agency aims to balance investor protection with practical solutions that recognize the unique nature of digital assets and blockchain markets.
Summary of Key Points:
- Paul Atkins, newly sworn-in SEC Chair, calls for clear, rational crypto regulations to foster innovation and market confidence.
- Criticizes past regulatory uncertainty for stifling crypto sector growth.
- SEC’s April 25 roundtable focused on crypto custody challenges and regulatory clarity.
- SEC plans to use existing authority to reform custody and broker-dealer rules without waiting for Congress.
- Shift aligns with Trump administration’s pro-crypto policy reversal and regulatory easing.
- SEC moving toward a cooperative regulatory stance, engaging industry stakeholders in tailored rulemaking.
This marks a pivotal moment for U.S. crypto regulation as the SEC under Atkins seeks to establish a balanced framework that supports innovation while protecting investors.
