SEC Chair Paul Akins Slams Gensler Regime for 'Stifling' Crypto Innovation
SEC Chair Paul Atkins praised the Commission's recent pro-crypto initiatives and criticized previous actions against the industry under former Chair Gary Gensler and the Biden administration. He emphasized the need for clear regulatory guidelines for crypto to foster innovation, which he believes has been hindered by regulatory uncertainty. Atkins acknowledged the efforts of Commissioner Hester Peirce, who leads the SEC's new crypto task force, and noted the agency's shift in approach, including dropping many high-profile lawsuits and exempting certain crypto assets from securities regulation. Atkins aims to prioritize pro-crypto policies and engage with market participants to create a rational framework for crypto assets, highlighting potential benefits such as efficiency, cost reduction, transparency, and risk mitigation.
