{"id":173620,"date":"2025-06-10T18:36:11","date_gmt":"2025-06-10T18:36:11","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/173620\/"},"modified":"2025-06-10T18:36:11","modified_gmt":"2025-06-10T18:36:11","slug":"secs-paul-atkins-pledges-defi-self-custody-support-how-this-affects-ethereum","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/173620\/","title":{"rendered":"SEC\u2019s Paul Atkins pledges DeFi, self-custody support \u2013 How this affects Ethereum"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\">Paul Atkins slammed the Biden administration for heavy-handed enforcement action in the crypto sector.\u00a0<\/li>\n<li style=\"font-weight: 400;\">The chair pledged to create an \u201cexemption framework\u201d to accelerate DeFi innovation in the U.S.\u00a0<\/li>\n<\/ul>\n<p>The U.S. Securities and Exchange Commission (SEC) chairman, Paul Atkins, backed the DeFi ecosystem and took a swipe at the Biden administration\u2019s heavy enforcement action approach in the crypto sector.<\/p>\n<p>During a roundtable on the 9th of June titled \u201cDeFi and the American Spirit,\u201d Atkins <a href=\"https:\/\/www.sec.gov\/newsroom\/speeches-statements\/atkins-remarks-defi-roundtable-060925\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">said<\/a>,\u00a0<\/p>\n<blockquote>\n<p>\u201cThe prior U.S. government administration discouraged Americans from participating in these market-based systems by asserting through lawsuits, speeches, regulation, and threatened regulatory action that participants and staking-as-a-service providers may be engaged in securities transactions.\u201d\u00a0<\/p>\n<\/blockquote>\n<p>Atkins supports DeFi<\/p>\n<p>In addition, Atkins hailed self-custody as a \u2018foundational American value\u2019 and backed DeFi protocols. He went on and added,\u00a0<\/p>\n<blockquote>\n<p>\u201cI\u2019m in favor of affording greater flexibility to market participants to self-custody crypto assets, especially where intermediation imposes unnecessary transaction costs or restricts the ability to engage in staking and other on-chain activities.\u201d<\/p>\n<\/blockquote>\n<p>Self-custody platforms grant users full control over private keys, remove third parties, and enhance decentralization. However, some of these platforms, like MetaMask, were sued by the Biden-era SEC.\u00a0<\/p>\n<p>Reacting to the DeFi lawsuits, Atkins blasted the former administration\u2019s action for undermining innovation.\u00a0<\/p>\n<blockquote>\n<p>\u201cUnfortunately, the prior administration undermined innovation in self-custodial digital wallets and other onchain technologies by asserting through regulatory actions that the developers of such software may be conducting brokerage activities.\u201d<\/p>\n<\/blockquote>\n<p>He added that he instructed the agency staff to offer a relief framework for \u2018innovation\u2019 to achieve Trump\u2019s vision of making America the <a href=\"https:\/\/ambcrypto.com\/how-sec-chair-paul-atkins-plans-to-shape-crypto-markets-all-details-here\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">crypto capital<\/a> of the world.\u00a0<\/p>\n<blockquote>\n<p>\u201cI have directed the staff to consider a conditional exemptive relief framework or \u201cinnovation exemption\u201d that would expeditiously allow registrants and non-registrants to bring on-chain products and services to market.\u201d\u00a0<\/p>\n<\/blockquote>\n<p>His remarks were welcomed by key players in the sector. <a href=\"https:\/\/ambcrypto.com\/predictions\/uniswap-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Uniswap [UNI]<\/a> founder Hayden Adams <a href=\"https:\/\/x.com\/haydenzadams\/status\/1932298054343733664\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">stated<\/a>,\u00a0<\/p>\n<blockquote>\n<p>\u201cInsane how far DeFi has come so quickly. Now, government agencies publicly recognize it as a national priority.\u201d<\/p>\n<\/blockquote>\n<p>As the home and pioneer of DeFi, Ethereum could be the net beneficiary of the \u2018relief framework\u2019 according to <a href=\"https:\/\/x.com\/econoar\/status\/1932184766956318866\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">Eric Conner<\/a>.\u00a0<\/p>\n<blockquote>\n<p>\u201cIf this becomes policy\u2026 Ethereum gets regulatory clarity for staking, self-custody, and open-source infra. The tide is turning. Let\u2019s build.\u201d<\/p>\n<\/blockquote>\n<p>ETH surged 5% after the update, probably lifted by BTC retest of $110K. But overall, the DeFi sector outperformed the rest by 5%, underscoring Conner\u2019s outlook.\u00a0<\/p>\n<p><a href=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/Sector-Performance-2025-06-10T08_49_32.102Z.jpeg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-500251\" class=\"size-full wp-image-500251\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Paul Atkins\" width=\"2400\" height=\"1256\" data-lazy- data-lazy- data-lazy-src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/Sector-Performance-2025-06-10T08_49_32.102Z.jpeg\"\/><\/a><\/p>\n<p id=\"caption-attachment-500251\" class=\"wp-caption-text\">Source: Velo<\/p>\n<p>\t\t\t\t\t\t\t\t\t\t\tNext: <a href=\"https:\/\/ambcrypto.com\/hype-rockets-11-as-bitcoin-climbs-but-what-happens-if-40-fails-again\/\" rel=\"prev noopener\" data-wpel-link=\"internal\" target=\"_blank\">HYPE rockets 11% as Bitcoin climbs \u2013 But what happens if $40 fails again?<\/a>\t\t\t\t\t\t\t\t\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"Paul Atkins slammed the Biden administration for heavy-handed enforcement action in the crypto sector.\u00a0 The chair pledged to&hellip;\n","protected":false},"author":2,"featured_media":173621,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[52,51,16,15],"class_list":{"0":"post-173620","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-ambcrypto","9":"tag-business","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114660519817327974","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/173620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=173620"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/173620\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/173621"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=173620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=173620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=173620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}