On Monday, June 9, 2025, SEC Chairman Paul S. Atkins delivered a landmark address at the Crypto Task Force Roundtable on Decentralized Finance (DeFi), titled “DeFi and the American Spirit.”

In his remarks, Chairman Atkins underscored how DeFi aligns with foundational American values—economic liberty, private property rights, and innovation. He described blockchain as a transformative force capable of redefining the ownership and transfer of intellectual and economic property.

Importantly, Atkins called for regulatory clarity on core crypto activities such as staking and mining, emphasizing that these should not be automatically classified as securities. He also reaffirmed the right to self-custody as a fundamental principle tied to individual empowerment and decentralization.

In a powerful contrast, he praised the resilience of on-chain, self-executing systems during moments of market stress—highlighting their stability when compared to some vulnerable centralized platforms. Blockchain’s ability to enable trustless, peer-to-peer financial interactions was positioned as a key innovation deserving thoughtful and modern regulation.

 

One of the most compelling excerpts from his speech reads:

“The idea of self-executing software code that is accessible to everyone, but controlled by no one, and that enables private, peer-to-peer transactions may sound like science fiction. But, blockchain technology makes possible an entirely new class of software that can perform these functions without an intermediary. I do not believe that we should allow century-old regulatory frameworks to stifle innovation with technologies that could upend, and most importantly improve and advance our current, traditional intermediated model. We should not automatically fear the future.”

After years of uncertainty and regulatory headwinds, Chairman Atkins’ remarks represent a meaningful shift in tone and policy direction. For Hashdex, this moment reinforces a thesis we've long held: the U.S. is beginning to embrace the transformative potential of crypto. As one of the world’s largest capital markets signals openness to a more coherent and forward-looking regulatory framework, we believe significant value stands to be unlocked across the digital asset class.

Hearing this from one of the most influential voices in global financial regulation marks a clear turning point. The U.S. is signaling that it’s ready to lead—not resist—the next era of financial innovation.

 

 

 

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