Trump’s choice to run US Sec Atkins promises a new crypto stance, gets a few questions

Paul Atkins, the former member of the US Securities and Exchange Commission who was tapped by President Donald Trump to run the agency, assured another direction for the crypto agency from the last four years, even though he was not pressed with a large picture of digital assets questions during A confirmation hearing on Thursday.

Now that Trump has secured his government’s cabinet level, the White House is working with leaders of the care agency through the Senate confirmation process. While many of the crypto titles come from the administration and Congress these days, those who run regulatory agencies will eventually write regulations that should comply with the industry.

Atkins are seeking to be the successor of ex-chair Gary Gensler, whose years of the agency have established him as the most popular nemesis of the digital assets sector. But Trump’s nominee is already positioning himself in contrast to Gensler, who criticized the industry history with the Swindlers and argued that the current security law was sufficient to treat most of the space as if it were in active violation of registration requirements.

“One of my chairman’s top priorities is to cooperate with my fellow commissioners and Congress to provide a stable foundation of regulation for digital possession by a rational, coherent, and principal approach,” Atkins told atkins His ready testimony For Thursday.

Senator Tim Scott, the South Carolina Republican who seated the committee, Atkins said “will provide long clarity for digital properties.”

But before the hearing began, Atkins was slapped by Senator Elizabether Warren, the Massachusetts lawmaker whose committee rank was Democrat, registered in doubt about him Ability to be impartial In the Digital Assets sector he served as a counselor.

At the hearing table next to the Atkins, Gould made his case for getting a comptroller office money, the regulator for national banks. The OCC has become a significant player in the Digital Assets sector campaign against US banking oversight forcing banks to maintain the length of the industry. Crypto and insider companies struggle to maintain banking relationships and argue that regulators have written “debanking” strain.

The first question for Gould was in that situation, with Scott asking if he would do that to reverse that previous stance, in which Gould respond, “Absolutely.”

For the crypto industry, Atkins’s responses to crypto matters are potentially more urgent. But he was not asked in his views on the next steps for the management of cryptocurrency, or about legislative efforts prepared to re -create US crypto policy.

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At one point, Republican senator John Kennedy of Louisiana raised the subject of former FTX CEO Sam Bankman-Fried, who said he looked like a “fourth runner-up in a contest with John Belushi,” and asked Atkins if the first appropriate look at SBF parents for their involvement in his deceptive activities.

“I hope to get to the SEC to find out what happened,” Atkins said. “Like you, I’m concerned about those reports.”

But Kennedy took it, suggesting a lack of liability indicating “two criteria for law and penalty” in the US

“I don’t think the SEC has done a damn thing,” Kennedy said. “Crooks them!” He shouted. “And I hope the SEC will do something about it.”

Several other senators have been damaged in wider crypto objects, and those who can expect, such as Senator Cynthia Lummis, are not present. The hearing lasted only two hours and included four nominees for different offices, causing some Democrats that it was not enough time to talk to each person.

The Atkins’ hardest moments revolve around his tenure as a SEC commissioner in the run-up at the 2008 Meltdown and the agency’s failures in the policy of security security contributing to that crisis. The Atkins avoided the basic responsibility of the crisis as the owner of giant mortgages Fannie Mae and Freddie Mac.

The next step in the confirmation process is for the committee to vote for the nominees and pass them for the potential approval of the General Senate.