SEC’s Paul Atkins: ‘Self-Custody Is as American as Apple Pie (and Bitcoin)’

In a move that’s sure to have crypto enthusiasts cheering louder than a Fourth of July fireworks display, SEC Chair Paul Atkins has come out swinging in favor of self-custody and DeFi at the latest SEC Crypto Roundtable. Atkins, who seems to have a soft spot for the ‘foundational American value’ of holding your own private property, declared that this right shouldn’t vanish just because we’re talking about crypto. ‘Self-custody is as American as apple pie,’ he might as well have said, though he probably used more legalese. He also pushed for flexibility in the crypto space, especially when intermediaries add unnecessary costs or restrictions—like that one friend who insists on ‘helping’ you manage your crypto but somehow always ends up with more fees than a luxury spa. The SEC Chair even hinted that he’s directed his staff to explore whether further guidance is needed on self-custody and DeFi activities, which could be a game-changer for the industry. The roundtable, dubbed ‘DeFi and the American Spirit’ (because nothing says patriotism like decentralized finance), tackled everything from smart contracts to token governance. Atkins took a subtle jab at the previous administration, suggesting they weren’t exactly DeFi’s biggest fans. He also made it clear that engineers shouldn’t be slapped with federal securities laws just for publishing software code—because, let’s face it, that’s like fining a chef for writing a recipe. As if that wasn’t enough, Atkins revealed plans to consider a conditional exemptive relief framework for DeFi platforms. This could fast-track on-chain products and services to market, giving both registrants and non-registrants a chance to shine. Meanwhile, Congress is gearing up to debate the Blockchain Regulatory Certainty Act, which has already won support from big names like Uniswap.