On April 25, 2025, the Chair of the Securities and Exchange Commission, Paul Atkins, was present in a roundtable discussion

At Atkins said the crypto sector lacked clearer rules. “The market itself shows the current framework badly needs attention,” he stated

The Chair of the Securities and Exchange Commission (SEC), Paul Atkins, was present in a roundtable discussion held by the Crypto Task Force at the Securities and Exchange Commission (SEC) headquarters in Washington on April 25. It was his fourth day on the job and possibly a key day in American cryptocurrency regulation.

Atkins' remarks come amid a lack of clearer rules for the crypto sector. "The market itself shows the current framework badly needs attention," stated Atkins during his opening remarks. He said that regulatory uncertainty has stalled innovation for years.

The discussion on digital asset custody was attended by industry heavyweights. Fidelity Digital Assets and Anchorage Digital Bank were among those present at the event. They spoke about the challenges in terms of legal and operational challenges as the current securities laws stand.

Atkins also backed a regulatory structure fitting the crypto industry's needs. He said that blockchain could be efficient, cost-reducing, and transparent. "Cryptocurrency necessitates explicit regulatory guidelines," he asserted, emphasizing the immediacy of intervention.

Still, Atkins did note that the SEC can act under current laws without having to wait for new legislation. He also backed Commissioner Hester Peirce's work to provide crypto-friendly policies in a practical sense, a sign of cooperation.

Custody Rules and Regulatory Clarity in Focus

During the roundtable, the review of the rules on custody under the major federal acts was one of the main topics.

Atkins said that the SEC is considering how these regulations apply to digital assets. The purpose is to create a rational framework that causes innovation, but protects investors.

Commissioner Peirce, who heads the Crypto Task Force, said speaking to a crypto rules game. She advocated for self-custody regulations, smart contract regulations, and regulated tokenized securities. Peirce warned that outdated rules might force investors to take greater risks.

The event also piqued Nasdaq's interest, and the stock exchange responded with a 23-page letter to the SEC. It also said there should be a clear classification system to separate the duties of the SEC and the Commodity Futures Trading Commission (CFTC). This could make oversight easier and aid in the case of integration into traditional markets.

Atkins admitted there was some need for regulatory adjustments. He told reporters the SEC has "ample room to maneuver" under current laws but welcomed Congressional input for added clarity. The Street's official statement is more about Nasdaq's proposal.

A New Era Under the Trump Administration

The roundtable reflects a broader shift in U.S. crypto policy. President Donald Trump has become a friend to the industry, a far cry from his predecessor’s strict position. The crypto sector played a massive role in Trump’s 2024 campaign, electing Trump and pro-crypto congressional candidates.

Atkins' remarks also support a pro-crypto sentiment. Market innovation could provide potential benefits, shared industry advocates. Consistent with the SEC’s softer enforcement approach, as CryptoAmerica reported earlier, it recently dropped its lawsuit against Dragonchain.

The meeting was attended by several SEC Commissioners, including Hester Peirce, Caroline Crenshaw, and Mark Uyeda. The aim is to foster greater cooperation among regulators in setting clear rules for the industry. However, Crenshaw expressed reservations about loosening the rules too quickly, as it could put investor protections at risk.