SEC Chair Paul Atkins, in a significant shift from previous regulatory stances, emphasized during a roundtable discussion that self-custody of cryptocurrency aligns with foundational American values, particularly the right to private property, challenging the notion that such rights should diminish in digital contexts.
This statement comes at a time when the U.S. crypto regulatory environment is evolving, with Atkins’ appointment and the disbanding of the Crypto Assets and Cyber Unit (CACU) under the Trump administration, signaling a move towards fostering innovation rather than stringent enforcement, as seen with the previous SEC Chair Gary Gensler’s approach.
The advocacy for self-custody and potential exemptions for DeFi platforms from strict regulations could redefine U.S. crypto policy, aiming to reduce unnecessary transaction costs and support on-chain activities like staking, amidst a backdrop of increasing global crypto-related crimes, such as “crypto kidnappings,” highlighting the urgency for clear and supportive regulatory frameworks.
