In his remarks made publicly at the Crypto Task Force Roundtable, Sec Chair Paul Atkins said digital assets deserve clear rules.
He believes that crypto could provide significant benefits in terms of efficiency and cost savings.
Atkins criticized the previous SEC administration, led by former chairman Gary Gensler for curbing the cryptocurrency market. As reported by U.Today, Gensler recently spoke about his anti-crypto policy in an interview with CNBC, claiming that 99% of all digital assets are based on sentiment.
The new SEC boss provided praise to “Crypto Mom” Hester Peirce. “It’s no wonder she won the ‘Crypto Mom title,” he said.
The agency’s third cryptographic roundtable focuses specifically on several challenges surrounding custody rules. Some believe there should be an alternative custody regime for crypto assets.
Caroline Crenshaw, the Democratic Party’s only commissioner, has become the voice of anti-cryptic dissent from the agency. She argues that existing SEC custody rules are the “gold standard” for investor protection, while also warning about a variety of unique risks associated with crypto and blockchain.
“Even the most responsible parties need regulatory standards to effectively protect their customers. Can crypto assets rules be any different?” she said during the roundtable.
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