In a serious management shift that will alter the company’s place on crypto and digital belongings, Paul S. Atkins has formally assumed his place because the thirty fourth Chairman of the U.S. Securities and Trade Fee.
The swearing was formally confirmed by an Apr. 21 press launch from the SEC. Atkins was nominated by President Donald Trump on Jan. 20 and confirmed by the Senate earlier this month.
Atkins returns to the SEC after beforehand serving as commissioner from 2002 to 2008 beneath President George W. Bush. He most lately ran Patomak International Companions, a regulatory consulting agency, and has suggested a number of blockchain and fintech startups.
He additionally co-chaired the Token Alliance and served as an professional witness in crypto-related litigation. Ethics filings present Atkins and his spouse maintain between $327 million and $588.8 million in whole belongings, together with $6 million in digital asset publicity. Earlier than his affirmation, he held stakes in Anchorage Digital, Securitize, and a $5 million LP curiosity in Off the Chain Capital, all of which he has agreed to divest.
“I am honored by the trust and confidence President Trump and the Senate have placed in me to lead the SEC,” Atkins mentioned in an announcement. “Together we will work to ensure that the U.S. is the best and most secure place in the world to invest and do business.”
Throughout his Senate affirmation listening to in March, Atkins criticized the earlier SEC administration beneath Gary Gensler for being obscure and overly aggressive towards the crypto trade. He pledged to scale back political interference, promote clear digital asset laws, and help capital formation.
Trade observers imagine Atkins’ management will mark a serious turning level in SEC coverage away from enforcement-driven actions and towards a clearer regulatory surroundings. With Atkins on the helm, expectations are excessive for sooner exchange-traded funds approvals, friendlier guidelines for token issuers, and a extra cooperative method to crypto oversight.
His swearing-in comes amid stories that main crypto companies like Coinbase, Circle, and Paxos are reportedly getting ready to use for U.S. banking licenses, inspired by what sources name a extra favorable surroundings in Washington. A number of ETF functions are additionally awaiting SEC approval.
