The cryptographic industry is preparing for a significant change in the regulatory tone following the presidency of Paul Atkins as president of the Securities and Exchange American commission on April 21. A former SEC commissioner with deep roots in deregular philosophy, Atkins replaces Gary Gensler, whose combative position towards Crypto has defined a large part of the agency’s inheritance.
In the last episode of Insigne of the size of an byte with CointelegraphThe main figures in the industry weigh on the implications of this change in leadership and what it could unlock for the innovation, investment and clarity of digital assets.
“The golden age of the Crypto continues
Chris Perkins, president of Coinfund, spoke with host Savannah Fortis and described his excitement concerning the new president of the SEC, predicting a reduction in regulatory uncertainty under the new administration.
“We were under this regulatory reign of terror, you know, as part of the Biden administration,” said Perkins. “Investors in assets, they are very comfortable to take market risks … But they are not comfortable taking risks of reputation, and at the same time as this is a regulatory risk.”
He pointed out how it is not only investors and nerve companies under the last administration, but also developers of the cryptographic space that had been targeted for their work.
Perkins highlighted how a change in the regulatory climate could catalyze growth.
“Now, again, you remove this personal responsibility … So in a way, you have this perfect storm of new institutional capital that is coming and that new developers are coming. And I think it will be a golden age for the creation of the company and the value.”
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Katherine Dowling, general lawyer and sales director at Bitwise Asset Management, agreed that the change was already visible.
“The atmosphere has already changed,” she said. “We have seen a burst of activities around certain legal affairs … be dismissed, abandoned … Not because any regulation disappears … But because more work must be done to define what these digital assets are.”
Dowling stressed that change concerns clarity, not deregulation.
“It is a change of signal to let let’s step back and define what they are, what they look like and how they should be regulated.”
What to expect from the Atkins era
James Gernetzke, Bitcoin financial director and Crypto Wallet Exodus, added that “the promise of being able to engage with a regulator on a reasonable basis … will be very useful.”
Gernetzke said that he expects a return to “more normal deadlines” for IPOs and access to capital markets.
“I think that the IPO is rushing … You will probably see towards the end … Maybe the months 10, 11, 12 … It happens for sure.”
Perkins captured the broader feeling, qualifying the bill on the structure of the market entering a potential unlocking.
“This bill on the structure of the market will have a very important impact … because I know so what is my asset, and I have a capital training process. I have a disclosure process … it will be great.”
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