Michaela
Paul Atkins, nominated by President Donald Trump, has been confirmed as the new chair of the U.S. Securities and Exchange Commission (SEC) after a 52-44 Senate vote.
Atkins was confirmed as the new SEC chair on April 9. “We welcome Paul Atkins as the next Chairman of the SEC. A veteran of our Commission, we look forward to him joining with us, along with our dedicated staff, to fulfill our mission on behalf of the investing public,” the agency’s commissioners shared in a statement.
After winning the 2024 presidential election, President Trump fulfilled his campaign promise to the crypto community by nominating Paul Atkins as SEC Chair. This move resulted in the removal of former chair Gary Gensler.
Atkins, who served as an SEC commissioner from 2002 to 2008, has been a strong proponent of easing regulatory restrictions and promoting financial innovation, especially within the cryptocurrency industry.
Once sworn in, Atkins will succeed Mark Uyeda, who has served as the SEC’s acting chair since January 20, following Gensler’s departure. Gensler, who led the SEC since April 2021, faced criticism from some quarters for his tough stance on cryptocurrency regulation and his push for stricter oversight of financial markets.
Republican Senator Cynthia Lummis expressed her support for Atkins’ appointment in a recent post on X, celebrating the move as a positive step for financial regulation. “I’m pleased Paul Atkins is confirmed as Chairman of the SEC. I sat down [with] Mr. Atkins to discuss digital asset legislation, empowering Wyoming’s blockchain future & implementing reforms to the regulatory rulemaking process. I’m confident his leadership will bring positive change,” Lummis wrote.
Under the Trump administration, the SEC formed a Crypto Task Force to engage with the cryptocurrency sector on regulatory matters and reversed several investigations and enforcement actions initiated by Gensler’s SEC.
Atkins, set to take a different direction, emphasized during his Senate confirmation hearing in March that his main focus would be to establish a clear and rational regulatory framework for digital assets. However, his confirmation process faced delays, reportedly due to additional financial disclosures stemming from his marriage into a billionaire family.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
