Lawmakers on the US Banking Banking Committee asked Paul Atkins’s prospective Securities and Exchange Commission (SEC) in his relationship with the crypto industry and how he could organize digital ownership if confirmed.
Asking Atkins at his nomination hearing on March 27, Massachusetts Senator Elizabeth Warren Says The former SEC commissioner had a “staggeringly bad judgment” in his role leading to the financial crisis in 2008 – Atkins served the agency from 2002 to 2008. Sen also asked. Atkins has already revealed consumers of his consulting firm Patomak Global Partners – who advised the Crypto Exchange FTX before its collapse in 2022 – for transparency about potential interests in the digital asset industry.
“Your clients pay you north $ 1,200 a time for advice on how to influence regulators like SEC, and if you are confirmed, you are in a basic place to deliver for all clients who pay you millions of dollars for many years,” Sen said. Warren, which suggests the judgment of the Atkins “is influenced by more than one objective assessment of data.”
Paul Atkins responding to lawmakers at March 27’s hearing on the nomination. Source: US Senate Banking Committee
The Senator of Massachusetts sent a letter Donald Trump’s choice on March 23, calling him to be willing to answer questions related to his potential role with the agency based on his contact with the crypto industry through patomak. At March 27 hearing, Sen asked. Warren told Atkins to reveal potential consumers of the Consulting Firm – he said he planned to sell the company if confirmed – that could “buy access to future SEC Chairman.”
Atkins said “he followed the process” but did not respond directly to Sen’s question. Warren. He suggested that the sale of the patomak could be a “pre-pare” for the former Commission of the Commission of the SEC.
This is a story development, and further information will be added as it is available.
