Paul Atkins, New SEC Chairman
Signals Shift in U.S. Bitcoin Policy
"Moving Toward Collaborative New Regulations"
Paul Atkins, the newly appointed chairman of the U.S. Securities and Exchange Commission (SEC), stated that the SEC has been creating uncertainty in cryptocurrency regulation over the past few years and emphasized the need to reassess these regulations. At the SEC's first cryptocurrency roundtable held on the 25th (local time) after his appointment, Atkins remarked, "Market participants utilizing this technology deserve clear regulatory guidance," expressing his intention to review cryptocurrency-related regulations. He particularly highlighted that "the current market demonstrates the urgent need to reassess the existing regulatory framework."
Atkins further stated, "We aim to move from a confrontational regulatory approach to a collaborative new regulatory direction," indicating a shift in approach. This suggests a departure from the previous administration's focus on regulation and enforcement in the cryptocurrency industry.
Atkins, known for his experience in the fintech industry and as a cryptocurrency advocate, is classified as a 'pro-crypto' figure. This contrasts with the previous administration's approach, which emphasized regulation and enforcement.
Meanwhile, President Donald Trump, who has positioned himself as a pro-cryptocurrency president, has promised to ease regulations on the cryptocurrency industry. Under Trump's policies, the SEC has recently withdrawn lawsuits against the Ripple Foundation, which had been in a legal battle over XRP, and has reduced penalties in the industry.
Following Atkins' confirmation, Bitcoin prices have shown an upward trend. On the 25th (local time), Bitcoin's price reached $95,172, marking a two-month high. According to Coinbase, Bitcoin traded at $95,172, up 1.88% from the previous day, the highest since February 24.
