SEC Chairman Paul Atkins: Will Develop Appropriate Standards for the Cryptocurrency Market

Odaily Planet Daily News: Paul Atkins, the new chairman of the US Securities and Exchange Commission (SEC), said on Monday that "this is a new era for the SEC", and policy-making will no longer rely on temporary enforcement actions, but will use existing powers to make rules, interpretations, and exemptions to set appropriate standards for market participants. Atkins criticized former chairman Gary Gensler's approach, stating that the SEC has taken an ostrich like 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 specific conditions and explore whether to provide conditional exemptions for those who wish to launch new products and services.