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Today in crypto, SEC chair Paul Atkins speaks at the agency’s roundtable. Circle executive Dante Disparte denies reports that the company is pursuing a US federal bank charter, and ARK Invest projects Bitcoin could reach as high as $2.4 million by 2030.
SEC chair suggests ‘huge benefits’ in agency’s third crypto roundtable
In one of his first appearances as the recently sworn-in chair of the US Securities and Exchange Commission, Paul Atkins delivered remarks to the agency’s third roundtable discussion of crypto regulation.
In the “Know Your Custodian” roundtable event on April 25, Atkins said he expected “huge benefits” from blockchain technology through efficiency, risk mitigation, transparency, and cutting costs. He reiterated that among his goals at the SEC would be to facilitate “clear regulatory rules of the road” for digital assets, hinting that the agency under former chair Gary Gensler had contributed to market and regulatory uncertainty.
“I look forward to engaging with market participants and working with colleagues in President Trump’s administration and Congress to establish a rational fit-for-purpose framework for crypto assets,” said Atkins.
Some critics of US President Donald Trump see Atkins’ nomination to lead the SEC as a nod to the crypto industry, acting on campaign promises to remove Gensler — the former chair resigned the day Trump took office — and cut back on regulation. Democratic lawmakers on the Senate Banking Committee questioned Atkins on his ties to the industry, potentially presenting conflicts of interest in his role regulating crypto.
Circle executive denies claims of seeking US banking license
An executive at major stablecoin issuer Circle denied reports that the company is looking to obtain a US federal bank charter.
In an April 25 X post, Circle’s chief strategy officer and head of global policy, Dante Disparte, denied that the company is interested in obtaining a US federal bank charter or acquiring an insured depository institution.
Instead, he said that Circle intends to comply with future US regulatory requirements for payment stablecoins, “which may require registering for a federal or state trust charter or other nonbank license.” He also urged lawmakers to reach regulatory clarity for stablecoins sooner rather than later.
The statement followed recent reports that major cryptocurrency firms, including stablecoin issuer Circle and crypto custodian BitGo, were considering applying for bank charters or licenses. Other firms cited as seeking such licenses included publicly traded US-based crypto exchange Coinbase and stablecoin issuer Paxos.
ARK Invest ups its 2030 Bitcoin bull case prediction to $2.4 million
Cathie Wood’s ARK Invest has raised its “bull case” Bitcoin (BTC) price target from $1.5 million to $2.4 million by the end of 2030, citing increased institutional investor interest and Bitcoin’s increasing acceptance as “digital gold.”
It also bumped its “bear” and “base” case scenarios for Bitcoin to $500,000 and $1.2 million, up from the $300,000 and $710,000 respective predictions it made in February.
“Institutional investment contributes the most to our bull case,” said ARK research analyst David Puell, who estimated that Bitcoin would achieve a 6.5% penetration rate into the $200 trillion financial market in a best-case scenario (that figure excludes gold).
Bitcoin’s acceptance as “digital gold” was also a major contributor to the lofty estimate, with Puell estimating that it could capture up to 60% of gold’s market cap by the end of 2030 in a bull scenario.
At $2.4 million per Bitcoin, the cryptocurrency’s market cap would be $49.2 trillion, assuming that Bitcoin’s total supply will have reached 20.5 million by the end of 2030, making it more valuable than the current gross domestic products of the US and China combined.
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Ready to dive into the world of offensive security? This course gives you the Black Hat hacker’s perspective, teaching you attack techniques to defend against malicious activity. Learn to hack Android and Windows systems, create undetectable malware and ransomware, and even master spoofing techniques. Start your first hack in just one hour!
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