The article discusses the recent developments in the cryptocurrency market following statements from former President Trump regarding tariffs, which caused Bitcoin (BTC)
$
95,163 to dip to $94,500. Nonetheless, Trump’s conciliatory approach throughout the day suggests that this last comment should not be interpreted as a significant risk by the market. On the other hand, the European Union expressed a willingness to negotiate tariffs. Paul Atkins, in his new role as the SEC Chair, made his first statements on the evolving landscape of cryptocurrencies.
SEC Cryptocurrency Statements
With Gary Gensler leaving office on January 20, the cryptocurrency space has been breathing a sigh of relief. Following his departure, there has been a halt to several non-fraud cryptocurrency lawsuits. While these changing conditions are highly supportive in the medium to long term, the impact of tariffs continues to be felt in the short term.
A new roundtable discussion on cryptocurrencies took place today, with details and future meeting dates previously shared. During this event, Atkins delivered his first public speech, instilling confidence in the cryptocurrency markets.
Paul Atkins and Cryptocurrency
Today, the third roundtable meeting focused on custodial institutions. Titled “Fundamentals for Crypto Custody,” the meeting addressed issues of interest to banks, with many leading cryptocurrency company executives in attendance. Atkins founded the consulting firm Patomak Global Partners in 2009 and has served numerous clients in areas such as DeFi and cryptocurrency exchanges over the years. An expert in the cryptocurrency field, he was specifically chosen and appointed after Trump’s pro-crypto pivot.
In his recent statements, Atkins criticized the SEC’s anti-crypto policies that have persisted for years.
“Innovation has unfortunately been stifled by the market and regulatory uncertainties promoted by the SEC in recent years.” Considering all these factors, one can imagine the decision expected by the year-end regarding 70 pending altcoin ETFs. Additionally, it raises questions about whether the SEC will pose challenges again during the IPO process for cryptocurrency companies. Beyond regulations, a shift in the SEC’s stance may pave the way for a series of positive developments.
