Paul Atkins offers key points of Defi at the SEC’s Crypto Task Force Roundtable
Paul Atkins, the new chairman of the Securities and Exchange Commission (SEC), outlined his vision for decentralized finance (DEFI) and the broader cryptocurrency industry in a key speech on Monday.
His remarks were presented at a roundtable titled “Defi and The American Spirit,” highlighting the consistency of Defi with core American values such as economic freedom, innovation, and private property rights.
Atkins champion defi and self casustody
Atkins opened him speech Through thanks to the activities organized by peers and crypto committee organizing groups, the importance of collaborative dialogue in shaping the future of the cryptocurrency landscape is emphasized.
He pointed out that blockchain technology represents a groundbreaking innovation that challenges traditional concepts of ownership and property rights. By enabling peer-to-peer transactions without intermediaries, blockchain facilitates a new form of digital property – Crypto Assets.
The SEC chairman criticized the former administration led by former chairman Gary Gensler, which he believes has involved Americans Spread the market Through regulatory threats and litigation.
He welcomed the recent clarification from the SEC Corporate Finance Department that confirms that the Proof of Work (POW) or Proof of Shares (POS) Network (POS) Network does not inherently comply with federal securities laws. However, Atkins stressed the need for formal regulations to consolidate this understanding.
A key point in Atkins’ speech was the principle of self-observation in a digital wallet, which he described as a fundamental right in the United States. He advocates greater flexibility to allow individuals to directly manage crypto assets, believing that unnecessary intermediaries can inflate transaction costs and hinder participation such as bet.
Explore a new crypto-regulatory framework
Atkins also expressed concern about the regulatory stance of the previous administration, which he believes was undermined in self-regular solutions. He compared it to a hypothetical situation where automakers may be responsible for traffic violations committed by drivers, stressing that software developers should not face similar effects of others using their code.
However, he emphasized the flexibility of the chain system during recent market pressures and noted Centralized platform The struggling, decentralized protocol continues to operate as expected.
Atkins acknowledges that existing securities regulations focus primarily on traditional issuers and intermediaries, which may not adequately address the unique characteristics of the chain system. He is responsible for SEC employees to explore new guidance and rulemaking to facilitate compliance transactions of these innovative technologies.
Looking to the future, Atkins expressed enthusiasm for the potential of Chain Software to improve capital efficiency, liquidity and create novel financial products.
He proposed the idea of an “innovation waiver” that could provide conditional relief to developers and companies that they hope to bring Chain Solution In the market, aligned with the broader vision of making the United States a global leader in cryptocurrency innovation.
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