SEC's New Chair Atkins to Address Crypto Custody at Roundtable

Paul Atkins, the newly appointed Chair of the SEC, is set to make his first public appearance at the upcoming Crypto Roundtable, scheduled for Friday. This meeting will focus on crypto custody and provide insights into Atkins' regulatory priorities for digital assets.

During his swearing-in ceremony, Atkins emphasized his key priority as providing regulatory clarity for digital assets. This clarity could potentially lead to more institutional products based on cryptocurrencies, wider adoption, and greater flexibility for US-based projects.

Atkins' commitment to the industry is evident, as he has pledged to take a "principled approach" to crypto regulation. His participation in the Crypto Roundtable discussions, which have been ongoing since late March, will offer a platform for him to describe his priorities and vision for the future of crypto regulation.

The discussions at the Crypto Roundtable will primarily concern crypto custody, which may limit the scope of Atkins' answers. However, his willingness to appear more regularly and engage with the crypto community signals a potential shift in the SEC's approach to digital assets.

Regardless of what Atkins says at the Roundtable, the crypto community has a good idea of his biggest concerns. For instance, the Ripple vs SEC suit is almost resolved, but a final settlement needs his official approval. Additionally, the Commission will need to decide on 72 altcoin ETF proposals, which will likely keep Atkins busy.

Atkins' vision for the SEC under his leadership is still unclear, but his acceptance speech provided some insights. He discussed the SEC’s “waywardness” under Gary Gensler, his desire to keep politics out of securities laws, and his ambition to make the US a global crypto capital. These priorities align with the crypto regulation outlook under Trump's presidency, which has been characterized by a laissez-faire approach.

However, Atkins' commitment to this approach has raised some concerns among investors. He previously served as the SEC Chair in the lead-up to the 2008 financial crash and resigned shortly beforehand. Over the next few years, he vocally opposed regulations constructed in the aftermath and blamed the US government for the FTX collapse. Some parts of the community worry that he might be too hands-off with bad actors.

Ultimately, Friday’s Crypto Roundtable will be the first of Atkins’ many industry-related actions. The securities debate is still ongoing, and it remains to be seen whether the commission will completely abandon crypto enforcement or take a back seat. As the new SEC chair tackles these issues, the community will get a chance to study Atkins’ outlook and crypto ethos.