New SEC Chairman Aims to Clarify Crypto Regulations
Paul S. Atkins has taken over as teh new Chairman of the U.S. Securities and Exchange Commission (SEC). This change could reshape the agency’s stance on crypto and digital assets.
Atkins was confirmed by the Senate this month after being nominated by President Donald Trump. He previously served as a commissioner from 2002 to 2008 under President George W. Bush.Recently, he ran Patomak Global Partners, a regulatory consulting firm, and advised blockchain startups.
Atkins holds significant assets, including $6 million in digital assets. He has agreed to divest holdings in crypto-related companies like Anchorage Digital and Securitize.
Atkins criticized the previous SEC governance for being unclear and aggressive towards the crypto industry. He promises to reduce political interference and promote clear regulations. This could lead to faster approvals for exchange-traded funds and friendlier rules for token issuers.
Industry experts believe Atkins’ leadership will create a more cooperative crypto oversight environment. Major crypto firms like Coinbase, Circle, and Paxos are reportedly preparing to apply for U.S. banking licenses. Several ETF applications are also awaiting SEC approval.
