Former US Securities and Exchange Commission (SEC) member Paul Atkins is set to appear before lawmakers at the Senate banking committee on March 27 as part of the Trump administration’s efforts to obtain president’s choices in high -level government positions.
Since Donald Trump received the office on January 20, the SEC, under the leadership of the acting chair Mark Uyeda, had Dropped multiple investigations and execution actions Against the major crypto companies, many of them have been in court for months or years. Many analysts see the SEC’s recent actions while the administration acting in its campaign promises the crypto industry, some of which have directly donated to the then-presidential candidate or his inauguration fund after the November 5 election.
The actions of the commission – which included The memecoins’ claims are not security – Also standing in contrast to its position under former chairman Gary Gensler, leading many to think that the SEC under Trump will lead to an emerging US crypto industry that is essentially free of regulatory review.
Atkins, which Trump chose in December 2024 and officially appointed after office, received support from industry players In Coinbase and Ripple, both of which have ongoing implementation actions brought by Sec. Cases have since fallen.
Provided seemingly about the SEC’s face in crypto implementation and The potential conflicts of Trump’s interest Using the industry – which is related to the Crypto firm World Liberty Financial and the launch of his own Memecoin – some lawmakers are likely to question Atkins’ views on digital possession of confirmation hearing.
If confirmed by the Senate, the Atkins could return to a closely controlled Republican SEC, along with democratic commissioner Caroline Crenshaw who is expected to leave 2026.
https://www.youtube.com/watch?v=jmqj01_zka8
It is unclear whether the Atkins will have votes to pass a confirmation hearing on the banking committee or a full floor vote in the Senate. Republicans hold 53-seats in the room with 51 votes required to confirm a nominee, and-except former representative Matt Gaetz for Attorney General-did not suggest that they intend to oppose any of Trump’s choices for important government positions for any reason.
Democratic opposition to Atkins nomination
Massachusetts Senator Elizabeth Warren, the leading Democrat on the banking committee that is often equivalent to crypto drugs and non -prohibited action, Says In a March 23 letter to Atkins that he had concerns about his potential role in the SEC after his consulting firm Patomak Global Partners, was a counselor to reduce the Crypto exchange FTX. He is also a counselor in the Advocacy Group Chamber of Digital Commerce.
“Your deep involvement with FTX and other high-paying crypto clients raises questions about your crypto regulation approach-and concerns about the extent of your knowledge of FTX illegal activities,” Sen said. Warren, adding:
“Your financial finances in the industries will closely adjust to increasing serious concerns about your ability to avoid conflicts of interest as a regulator.”
Sen suggested. Warren said some members of the Senate are likely to ask Trump’s choice in the SEC recently declining implementation cases against crypto companies, reports that the family of the US president had performed talks with Binance About a stake in the company as well as a forgiveness for former CEO Changpeng Zhao, how he applies to apply security laws to digital possession if confirmed, and the Commission’s recent opinion that memecoins are not security.
He announced that the Atkins may have also spoken to Republican Sec Commissioners Uyeda and Hester Peirce after his nomination.
Related: SEC is waiting for a chair before setting a crypto agenda – Hester Peirce
Ahead of his hearing, Atkins already had recognized Republican lawmakers were with the committee, including Wyoming Senator Cynthia Lummis. Cointelegraph contacted Sen’s office. Lummis to comment on the SEC Commission nomination but did not receive a response at the time of publication.
If his nomination moves through the banking committee and the Senate, the Atkins will likely confirm a term ending June 2031, taking as a seat from Uyeda. In addition to the commission dropping investigations and implementation actions, the SEC Acting Chair suggested abandonment of policies It requires crypto companies to register with the agency.
Magazine: Ripple said the SEC ‘over,’ Trump’s DAS, and more: Hodler’s Digest, March 16 – 22
