币界网报道：Written by: Will Awang On June 9, 2025, Paul S. Atkins, the new chairman of the U.S. Securities and Exchange Commission (SEC), delivered a positive speech at the "Decentralized Finance and the American Spirit" roundtable, foreshadowing the SEC's friendly regulation of DeFi. Adams, the founder of Uniswap, said that DeFi is developing rapidly and government agencies regard it as a national priority. The value of old DeFi protocols such as Aave, Uni, Mkr, and Comp has rebounded, and the price of ETH has risen, indicating that these protocols can "go ashore." Paul S. Atkins emphasized that blockchain embodies the value of American economic freedom, private property rights and innovation, supports asset self-custody and self-executing software code, and opposes restricting innovation with traditional regulatory frameworks. He proposed to formulate a reasonable regulatory framework, support flexible issuance, custody and trading, accelerate the development of on-chain financial markets, promote innovation exemptions, and help the United States become the global cryptocurrency capital. Comparison of the old and new regulatory thinking of the SEC: Former Chairman Gary Genseler adopted strict law enforcement and identified many crypto assets as securities, resulting in multiple lawsuits; Paul S. Atkins promoted flexible regulation and encouraged innovation. The US crypto regulatory framework has taken shape, including bank regulation of payment stablecoins, CFTC regulation of crypto assets, SEC regulation of DeFi and tokenized assets, and FinCEN and other regulators of KYC/AML. Future trends: Old DeFi develops steadily, innovative DeFi grows rapidly under innovation exemptions, stablecoins and tokenized assets promote diversified financial products, and traditional financial technology is combined with DeFi to form a global, low-threshold, low-cost on-chain financial market, with the underlying US dollar stablecoin and US debt as the basis.