- Personnel changes at the SEC: John Deaton suggests that Paul Atkins should fire or demote certain SEC employees.
- Regulatory exemptions: Deaton calls for clear guidelines that exclude self-custody and DeFi from SEC regulation.
- Support for Crypto Products: A less aggressive SEC under Atkins could speed up approval of crypto ETFs and other financial products.
John Deaton’s demands for SEC reform
John Deaton, a prominent crypto community advocate, has specific demands Paul Atkins directed, he should take over the chairmanship of the SEC. Deaton advocates that Atkins fire or demote some of the employees promoted by his predecessor, Gary Gensler, because he sees them as part of an overly aggressive regulatory policy.
He further calls for Atkins to establish clear guidelines on self-custody and decentralized finance (DeFi) exempt from SEC regulation. Deaton argues that such clarification would support the crypto industry and contribute to its growth.
Implications for crypto regulation
The potential confirmation of Paul Atkins as SEC Chairman is seen as a positive turning point for the Crypto regulation seen in the USA. If he leads the SEC, the agency could pursue more innovation-friendly and less aggressive policies.
This could, among other things, accelerate the approval of additional crypto ETFs and other crypto financial products, which would lead to increased institutional exposure to the crypto market. This would push the entire crypto sector and could ensure a long-lasting bull market.
Piet Wetenkamp