SEC’s Paul Atkins pledges DeFi, self-custody support – How this affects Ethereum

Atkins said the agency will consider a conditional “innovation exemption” to drive on-chain products.

• Paul Atkins slammed the Biden administration for heavy-handed enforcement action in the crypto sector. 
• The chair pledged to create an “exemption framework” to accelerate DeFi innovation in the U.S. 

The U.S. Securities and Exchange Commission (SEC) chairman, Paul Atkins, backed the DeFi ecosystem and took a swipe at the Biden administration’s heavy enforcement action approach in the crypto sector.

During a roundtable on the 9th of June titled 

DeFi and the American Spirit,” Atkins said, 

“The 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.”