Thread by @zGuz

New SEC Chair Paul Atkins just gave the most insanely bullish crypto speech in American history

Here's why it was not only a complete 180 from Gensler's disaster, but also reveals how the SEC will achieve @realDonaldTrump's wish to create the Crypto Capital of the World 🧵

Chair Atkins' speech opened the SEC's crypto roundtable and it was important because it was his first chance to really reveal his crypto goals as Chair

Atkins began by admitting the SEC must change course from Gary Gensler's failures:

"It is a new day at the SEC"

Atkins also echoed and endorsed the new approach started by SEC Crypto Task Force head Hester Peirce to create new rules and finally provide clarity for builders

"In order for the US to be the crypto capital of the planet, the Commission must keep pace with innovation"

After 4 years of an SEC Chair (Gensler) who said crypto could only be used for fraud, I cannot overstate how amazing it is to hear Atkins talk about the positive implications:

"Blockchain technology holds the promise to allow for a broad swath of novel use cases"

As a US crypto founder who suffered through the Gensler SEC era, it was amazing to hear Chair Atkins admit why no one has wanted to work with the SEC before

He highlighted that only 4 crypto asset issuers worked with the SEC to register offerings and why the old system failed:

I just went down to DC to discuss exactly the points Chair Atkins walked through with SEC Commissioner Peirce

She told me the admin wants to move even quicker. I predict it will create a crypto boom the rest of the world will be unable to challenge

tl;dr the SEC has admitted new rules are needed, and unlike last time, is now listening to founders like me and others to write rules together

As Commissioner Peirce told me — the era for real utility has officially begun. America will be unstoppable 🇺🇸