Paul Atkins Commits to Prioritizing Crypto Regulation at SEC Confirmation Hearing
Paul Atkins, nominated by Donald Trump to lead the U.S. Securities and Exchange Commission (SEC), stated that regulating crypto will be his top priority if confirmed. During his confirmation hearing on March 27, 2025, he emphasized the need for clear rules to reduce market confusion and foster innovation.
Key points from Atkins' statements include:
- Unclear regulations have hindered market innovation.
- He aims to establish a rational framework for digital assets.
- Regulations should be smart and efficient, aligned with the SEC's legal authority.
- Focus will return to protecting investors and supporting market efficiency.
Mark Uyeda remains as acting SEC chair until the Senate votes on Atkins' confirmation, which has not yet been scheduled. Senator Tim Scott expressed strong support for Atkins, believing he could reverse policies perceived as harmful and enhance U.S. innovation in the crypto sector.
However, Senator Elizabeth Warren raised concerns about Atkins’ independence due to his ownership of up to $6 million in crypto assets. She requested that he recuse himself from decisions affecting past clients and refrain from advising the crypto industry during and four years post-tenure at the SEC.
If confirmed, Atkins will succeed Gary Gensler as SEC chair.