Main takeout
- Paul Atkins was confirmed by a SEC chair on behalf of Gary Gensler.
- Atkins aims to introduce a reasonable encryption framework on the SEC.
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Wednesday, the US Senate confirmed Paul Atkins as the head of the US Securities and Exchange Commission (SEC) in 52-44 votes. He is expected to swear in the future and assume his new role.
Chosen to lead President Donald Trump’s leading securities market regulatory agencies, ATKINS will work closely with other SEC members, including Republican Hester Peirce and Mark Uyeda and Democratic Commissioner Caroline Censhaw.
Atkins, which advocates market -oriented innovation, is expected to adopt a support posture for the digital asset sector. Market participants expect a quick tracking process for Crypto-based investment products, such as ETFs connected to major assets such as XRP, Solana and Meme-Coin-Terned-Mainstay and Dogecoin.
On January 20, after appointing Gary Gensler’s resignation and Uyeda as acting chairman, the SEC began to reduce its efforts to enforce encryption.
Uyeda established a task force led by Hester Peirce to re -evaluate the institution’s strategy to regulate digital assets, and rapidly branched in the previous approach.
The controversial rules, such as the employee accounting bulletin board 121, have also been canceled, and the crypto industry has long lobbyed due to clear guidelines for token classification, custody requirements and market structure. Atkins is likely to accelerate this transition.
At the confirmation hearing on March 27, Atkins promised to encourage innovation and protect investors for clear and principle regulatory frameworks for digital assets.
He also expressed his desire to develop politics from regulatory decisions and to develop clear rules that encourage investment in the US economy.
He told the Senate panel in the Senate panel, promising to cooperate with Congress about the “reasonable” encryption framework. He criticized the “unclear and overly politicized” rules that interfere with capital formation.
Today’s confirmation followed the approval of the 13-11 Senate Bank Commission on April 3.
The mission faced the opposition of the Democratic Party led by Senator Elizabeth Warren, who questioned Atkins’ financial industry connection and his regulatory position during the 2008 financial crisis.
Atkins established the Patomak Global Partners before serving as a member of GEORGE W. BUSH from 2002 to 2008. Founded Patomak Global Partners. Patomak Global Partners advised financial and encryption customers, including FTX’s SAM Bankman-Fried before collapse. He also made the token Alliance as a co -chairman and set up a percentage of encryption.
It is associated with a wide range of financial supervisory restructuring of the Trump administration as Atkins joins the Finance Minister Scott Bessent and the Secretary of State Howard Lutnick.
Senator Cynthia Lummis said, “Paul Atkins was confirmed as the chairman of the SEC and sat with Atkins to grant authority to the future of Wyoming’s blockchain and reform the regulatory rules.
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