U.S. SEC Chairman Paul Atkins: Will Establish Appropriate Standards for the Crypto Market

Odaily News Paul Atkins, the new chairman of the U.S. Securities and Exchange Commission (SEC), said on Monday that "this is a new era for the SEC," and that policymaking will no longer rely on ad hoc enforcement actions, but will use existing rule-making, interpretation and exemption powers to set appropriate standards for market participants. Atkins criticized the approach of former chairman Gary Gensler, saying that the SEC has taken an ostrich approach in the past - perhaps hoping that cryptocurrencies will disappear on their own. Atkins also revealed that the SEC may update custody rules to allow self-custody under certain conditions and explore whether to provide conditional exemptions for those who want to launch new products and services.