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Highlights
- Paul Atkins has been sworn in as new SEC Chair.
- Atkins is considered a breath of fresh air for the cryptocurrency ecosystem.
- The new SEC Chair has a mountain of work on his desk including ETF approvals and lingering legal battles.
Paul Atkins has formally taken office as the 34th Chairman of the US Securities and Exchange Commission (SEC). The new pro-crypto SEC Chair is expected to hit the ground running with clear regulations in his second stint at the Commission.
Paul Atkins Begins Tenure As New SEC Chair
According to an SEC press release, Paul Atkins has taken over the reins of control at the US SEC. Per the statement, Atkins has taken the oath of office as the 34th SEC Chair after an edgy wait.
Atkins earned a nomination by US President Trump in mid-January before clinching a US Senate confirmation as SEC chair. Following Atkins’ confirmation by the Senate, final paperwork and the Easter holidays delayed his assumption of office.
“I am honored by the trust and confidence President Trump and the Senate have placed in me to lead the SEC,” said Atkins.
Paul Atkins is making a return to the US SEC after previously serving as a Commissioner between 2002 and 2008. Armed with decades of capital market experience, Atkins is pledging to maintain a “fair, orderly, and efficient market” with investors’ protection at the core.
Pro-Crypto SEC Takes Charge – Here’s What To Expect
Right out of the bat, digital asset enthusiasts are buzzing with excitement as Paul Atkins begins his tenure. The pro-crypto SEC Chair is expected to fast-track clear digital asset regulatory direction for the securities watchdog.
Following his assumption of office, Paul Atkins may make an appearance at the SEC’s third crypto policy roundtable. If Atkins joins the roundtable, the new SEC Chair will be in the thick of things for discussions around crypto custody with representatives from Kraken and Fidelity in attendance.
Atkins will lead the securities regulator as the Commission’s case with Ripple enters its final stretch. Following the approval of a joint motion to suspend appeals, pro-XRP lawyer says there are “no more excuses for delays.”
Paul Atkins will face a mountain of paperwork from cryptocurrency exchange-traded fund (ETF) applications on his desk. Currently, over 17 XRP spot ETFs are awaiting approvals from the SEC, with a pro-crypto Chair tapped to lend support.
Atkins’ assumption of office comes on the heels of Oregon filing a securities enforcement action against Coinbase, leaning on an old playbook.
Paul Atkins’ connection to cryptocurrencies runs deep, with the new Chair holding nearly $6 million in digital assets. Early in the day, Coinbase announced support for Linked Reserve Rights connected to Paul Atkins.
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