Summary:

A former crypto executive has been appointed as the director of trading and markets at the SEC, signaling a more crypto-friendly stance under Chairman Paul Atkins.

Jamie Selway Appointed as Director of Trading and Markets at SEC

A former crypto executive has been tapped to serve as the director of trading and markets at the U.S. Securities and Exchange Commission (SEC). Jamie Selway, a veteran financial services executive, will begin serving in the role on June 17th, per a new press release from the regulator.

SEC’s More Crypto-Friendly Stance Under Chairman Paul Atkins

SEC Chairman Paul Atkins says Selway will help “ensure the agency’s regulations balance costs and benefits.” The SEC has adopted a more crypto-friendly stance under Atkins, who has sought to distance the regulatory agency from the high-profile enforcement actions overseen by Gary Gensler, the previous chair.

Regulatory Changes Needed for On-Chain Assets

Atkins mentioned last month that the SEC’s “legacy rules and regulations” don’t contemplate the novel use cases of blockchain technology. He emphasized the need for regulatory changes to accommodate on-chain securities and other crypto assets, in order to foster the growth of blockchain technology.