The SEC’s Crypto Task Force hosted its first major roundtable discussion on Friday under Chair Paul Atkins, marking a shift towards a friendlier approach to the crypto industry. The event aimed to address the issue of custody for digital assets, with Atkins stating that innovation in the crypto space has been stifled for several years and changes are needed.
The roundtable brought together industry experts, regulators, and legal experts to discuss custody, or the safeguarding of digital assets. Atkins emphasized the need for a new era of regulation that recognizes differences across qualified custodians and acknowledges self-custody as a viable option.
The SEC has taken steps to ease regulations, rescinding a rule established under prior Chair Gary Gensler that blocked institutional adoption. The agency has also issued guidance stating it doesn’t deem most meme coins securities under US federal law, providing relief to the president’s family members who have multiple crypto projects on the market.
However, tensions remain between investor protections and practical realities of securing decentralized assets. Atkins confirmed that foreign companies will be held accountable for following US rules, including delisting Chinese firms if necessary.
The event signals a renewed focus on finding a compromise on the controversial custody rule, first proposed under Gensler but stalled due to industry concerns. The SEC’s new approach aims to balance investor protections with the practical realities of regulating crypto assets.
As the regulatory landscape continues to evolve, it remains to be seen how the SEC’s efforts will impact the crypto industry and its stakeholders.
Source: https://www.cnbc.com/2025/04/25/sec-chair-atkins-says-crypto-innovation-been-stifled-at-roundtable-.html