The SEC Chairman: "Self-custody" is a "fundamental value of the United States"

SEC Chairman Paul Atkins suggested a more open attitude towards self-custody during the "DeFi and the American Spirit" panel discussion, referring to "self-custody" as a "fundamental value of the United States."

Atkins stated, "The right to self-custody of private property should not disappear by logging into the internet, and I support giving more flexibility to market participants to self-manage their crypto assets."

This is the latest sign of a shift in the SEC's regulatory stance since the departure of former Chairman Gary Gensler. Atkins criticized the previous administration's classification of developers as brokers, which he said hindered innovation. He also stated that he has asked SEC staff to explore whether providing further guidance or establishing rules would help registrants to trade with these software systems while complying with applicable laws.