Positive sentiment in the cryptocurrency market continues after the weekend. Bitcoin is gaining 1.10% today to 94,800 USD, and Ethereum is trading 0.80% higher around 1,806 USD. Liquidity is also starting to return to lower-cap projects, where we are seeing the first stronger gains since the beginning of the year.
Last Monday, April 21, 2025, Paul Atkins was sworn in as the new Chairman of the U.S. Securities and Exchange Commission (SEC). Atkins is stirring excitement among many investors due to his positive approach toward the cryptocurrency market.
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On Friday, April 25, during his first public appearance at the SEC Crypto Task Force Roundtable on cryptocurrency custody in Washington, D.C., Atkins emphasized the need for “rational, fit-for-purpose regulatory frameworks” for crypto assets. He stated that “market participants engaging with this technology deserve clear regulatory rules” and that “innovation has been stifled over the past few years due to market and regulatory uncertainty, unfortunately caused by the SEC.”
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Atkins highlighted the benefits of blockchain technology, expecting significant improvements in the financial industry as a result of cryptocurrency adoption.
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He acknowledged that previous SEC actions under Gary Gensler’s leadership mainly relied on enforcement, which, in his view, sustained uncertainty.
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Paul Atkins also addressed the challenges related to cryptocurrency custody, questioning whether changes are necessary in the regulations under the Exchange Act, Advisers Act, or Investment Company Act to adapt them to crypto assets and blockchain technology.
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In conclusion, the new Chairman noted that the SEC has substantial room for action within the existing regulations to reshape cryptocurrency policy.
Atkins’ pro-cryptocurrency statements and the SEC’s shift away from enforcement-based policy have contributed to maintaining optimistic market sentiment. Bitcoin is consolidating below 95,000 USD, which, considering the scale of recent gains, indicates sustained strong demand and limited profit-taking.
Source: xStation 5
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