SEC Chair Paul Atkins Advocates 'Self-Custody', Criticizes Previous Gensler Administration
Summary
- SEC Chair Paul Atkins was reported to have strongly advocated for the right to self-custody.
- He stated that market participants need more flexibility to hold crypto assets directly without intermediaries.
- Pointing out transaction costs and restrictions on onchain activities due to intermediaries, he emphasized the importance of investors' right to manage digital assets themselves.
Paul Atkins, Chair of the U.S. Securities and Exchange Commission (SEC), strongly advocated for the right to 'self-custody' while criticizing the previous Gary Gensler administration's cryptocurrency policies.
At the 'DeFi and the American Spirit' meeting hosted by the SEC Cryptocurrency Task Force on the 9th (local time), Chair Atkins emphasized, "Self-custody is a fundamental American value," and that "market participants should be granted greater flexibility to hold crypto assets directly without intermediaries."
He added, "If unnecessary transaction costs are created due to intermediaries or if there are limitations in Staking or Onchain activities, market participants should be provided with greater flexibility to manage digital assets themselves."
Heecheol Yang
heecheol@bloomingbit.ioHello, I'm a reporter at bloomingbit
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