The U.S. Senate confirmed Paul Atkins as the chairman of the Securities and Exchange Commission (SEC) in a 52–44 vote on Apr. 9.
In his confirmation testimony before the Senate Banking Committee on March 27, he said his top priority as the SEC chair will be to work towards providing “a firm regulatory foundation for digital assets.”
The tenure of the former chair, Gary Gensler, saw the SEC going after multiple crypto exchanges for allegedly offering unregistered token securities.
After President Donald Trump assumed office for the second term, most of these cases, including those against Coinbase and Ripple, are getting dismissed or settled.
Atkins is Trump’s pick for the position and will replace acting SEC chairman Mark Uyeda.
Robert “Bo” Hines, executive director of the President’s Council of Advisers on Digital Assets, congratulated Atkins on his confirmation. He posted on X (formerly Twitter), “We look forward to working together to make the United States the crypto capital of the world!”
Sen. Cynthia Lummis (R-WY), well-known for her BITCOIN bill, also welcomed Atkins’ confirmation. She informed that she discussed digital asset legislation and reforms to the regulatory rulemaking process with him. “I’m confident his leadership will bring positive change,” she wrote on X.
Coinbase CEO Brian Armstrong said Atkins was an “excellent choice” in an X post last year.
Sen. Elizabeth Warren (D-MA) questioned Atkins about his ties to the now-bankrupt crypto exchange, FTX.
Atkins is the founder and CEO of the consulting firm Patomak Global Partners that advised FTX in January 2022 before the exchange filed for bankruptcy in November 2022.
Atkins has previously served at the SEC as a commissioner during 2002-2008 under George W. Bush’s presidency. Once he takes the oath, he will take over the SEC chair for the long term.
