On Friday, April 25, Paul Atkins, the newly appointed chairperson of the U.S. Securities and Exchange Commission (SEC), will deliver his first public address focused on crypto assets at the SEC’s crypto custody roundtable.
Paul Atkins’ First Address As SEC Chair
Scheduled from 1:00 PM to 5:00 PM Eastern Time (ET), the roundtable will be held in Washington, D.C., and will also be accessible to international participants, with the corresponding time in India Standard Time (IST) set for 10:30 PM on April 25 to 2:30 AM on April 26.
This marks a critical moment for the industry, as stakeholders hope for a more favorable regulatory environment following years of stringent oversight under the previous chair Gary Gensler, characterized by a regulation by enforcement approach.
Atkins is expected to provide opening remarks at the event, alongside key figures such as Richard Gabbert, Chief of Staff for the Crypto Task Force, and SEC Commissioners Caroline Crenshaw, Mark Uyeda, and Hester Peirce.
The roundtable, titled “Know Your Custodian: Key Considerations for Crypto Custody,” will feature a panel of experts from prominent firms, including Terrence Dempsey from Fidelity Digital Asset Services, Baylor Myers from BitGo, and Tammy Weinrib from Copper Technologies Ltd. The discussion will be moderated by Zach Zweihorn of Davis Polk & Wardwell.
Crypto Market Optimism Surges
The backdrop of Atkins’ appointment comes during a period of renewed optimism in the cryptocurrency market, coinciding with the election of Donald Trump as President in 2024.
Under the current Trump administration, the digital asset sector experienced a resurgence, with major cryptocurrencies witnessing substantial gains. Bitcoin, for instance, has surged by approximately 37.18% over the past six months, reaching a current value of $92,172.81.
In contrast, Ethereum, the second-largest digital currency, has experienced a decline of around 30.93%, dropping by $786.67 in the same timeframe. Over the past few days, however, the altcoin has regained the $1,760 mark, above the crucial $1,600 support floor.
Atkins’ selection as SEC chair has been well-received by the digital asset community, particularly given his reputation as a crypto advocate. The shift in leadership signals a potential pivot towards a more accommodating stance for the digital asset industry.
This has been further demonstrated by the agency’s recent decision to drop enforcement actions against key industry players such as crypto exchanges Coinbase, Binance, Uniswap Labs and Kraken.
Most significantly, the agency recently decided to seek ways to end one of the most high-profile cases against Ripple Labs and its related token, XRP, which began a series of similar actions over the past four years.
Featured image from Finance Magnates, chart from TradingView.com
