Paul Atkins claimed that legacy frameworks are not fit to regulate decentralized technologies and should not stifle innovation

Quotes that support claims

"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," Atkins said.

Atkins emphasized that many blockchain applications operate without administrators, which places them outside frameworks written for issuer-centric markets.