Source: Cointelegraph Original: "{title}"
According to reports, the U.S. Senate committee plans to hold a hearing on March 27, which would bring Paul Atkins one step closer to becoming the new SEC chairman who is friendly to cryptocurrencies.
President Trump nominated Atkins to lead the SEC on December 4, but it has been reported that he has faced numerous issues regarding financial disclosures after marrying into a billionaire family, which has delayed his potential start date.
While it is currently unclear whether the White House has submitted the relevant documents to the Senate, Eleanor Mueller from Semafor stated in a post on the X platform on March 17 that Senate Banking, Housing, and Urban Affairs Committee Chairman Tim Scott is considering holding a hearing on March 27 to review Atkins' qualifications.
"It is still unclear whether the committee has received Atkins' documents, but in any case, this is the most positive progress we have seen so far."
However, Atkins will still need to be confirmed by a Senate vote.
Mueller also noted that the Senate Banking Committee plans to hold a bipartisan meeting on March 21 regarding Atkins' nomination.
Source: Eleanor Mueller
Previously, in a report on March 3, Semafor's Mueller indicated that financial disclosure issues had prevented Atkins from scheduling a Senate hearing to review his qualifications.
According to a Forbes report on December 14, 2024, Atkins' wife's family is associated with TAMKO Building Products LLC, a manufacturer of residential roofing shingles, which reportedly had revenues of $1.2 billion in 2023.
"There are quite a few things to deal with." A former Senate Banking Committee staffer reportedly told Mueller on March 3.
"But he was nominated so early, so I think that's why people are starting to wonder, 'What exactly is causing the delay?'"
Atkins served as an SEC commissioner from 2002 to 2008, and prior to that, he was a corporate lawyer at Davis Polk & Wardwell LLP in New York. He is expected to regulate the crypto space in a more collaborative manner than former SEC Chairman Gary Gensler.
It has been nearly four months since Trump chose Atkins to lead the SEC on December 4, and it has been more than two months since Trump was inaugurated on January 20. However, it is not uncommon for SEC chairmen to take office later.
The last two SEC chairmen, Gary Gensler and Jay Clayton, took office on April 17, 2021, and May 4, 2017, respectively, both several months after the presidential transition that year.
Meanwhile, since Gensler's departure on January 20, Mark Uyeda has been serving as the acting chairman of the SEC.
Since then, the SEC, led by Uyeda, has established a special cryptocurrency task force led by Commissioner Hester Peirce and has rescinded a controversial rule that required financial companies holding cryptocurrencies to account for them as liabilities on their balance sheets.
In the past month, the SEC has withdrawn several investigations and lawsuits initiated by Gensler's committee against companies such as Coinbase, Consensys, Robinhood, Gemini, Uniswap, and OpenSea.
Uyeda stated on March 17 that the SEC is also considering abandoning a requirement for cryptocurrency companies to register as exchanges and may even repeal the cryptocurrency custody rules proposed by the Biden administration.
Related: Vermont Follows SEC's Lead, Abandons Staking Lawsuit Against Coinbase
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