Paul Atkins took the oath to Formally became chairman of the US Securities and Exchange Commission, returning to Mark Uyeda in his previous role as a Commissioner of the Republican after three busy service months as head of the agency.
Atkins permanently replaced the former seat, Gary Gensler, whose crypto industry is widely seen as its chief antagonist to the US government. But Uyeda and fellow commissioner Hester Peirce has placed the SEC on a path to greater acceptance of digital possession, forming a crypto work force, pouring a long list of industry -implementing actions and gathering industry representatives in A Series of crypto roundtables. The agency staff also released statements that declare different corners of the crypto such as the outside of its security.
The new chairman said he was honored by the “trust and confidence” that Trump and the US Senate put him in and pleased to start work with other commissioners.
“We work together to make sure the US is the best and most safe place in the world to invest and do business,” he said in a statement.
Atkins, who was confirmed by the Senate as nominee by President Donald Trump earlier this month, had previously served as a SEC commissioner and ran a Washington Consulting Firm dedicated to compliance and policy issues. In addition to his Wall Street ties, Atkins also played counseling roles with crypto companies.
The Senate is easy Atkins approved with 52-44 votesAlthough the Senate Banking Committee advanced to his confirmation with the party lines. All democratic panels opposed the nominee, including Senator Elizabeth Warren, who criticized the previous tenure at the Atkins in the SEC from 2002 to 2008, tied it to the 2008 Global Financial Crisis.
The SEC is facing a huge crypto agenda, which has potentially made more complex with Trump’s personal business interests in the industry, including Stablecoin of World Liberty Financial and the Memecoins (such as the President’s own $ Trump). However, its crypto regulations, will largely be directed by future law which is now a priority in Congress.
The Atkins’ tenure will begin with an incomplete commission, with only four of its five members in the area. And the single Democrat – Caroline Creshaw – is The conquest of an expired term. The White House has not yet moved to fill in two democratic spaces in the commission, and other regulators have seen Trump attempt to undo democratic members of their positions.
Read more: Trump’s choice to run Sec Paul Atkins promises a new crypto stance, gets a few questions
