SEC Welcomes New Chair Amid Crypto-Friendly Policy Shift

CN
8 days ago

The U.S. Securities and Exchange Commission (SEC) issued a statement on April 9 confirming the appointment of Paul Atkins as the agency’s next chairman. The announcement followed Atkins’ formal confirmation by the U.S. Senate and marks his return to a leadership role at the Commission, where he previously served as a Commissioner. The SEC’s statement reads:

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.

Other SEC commissioners are Mark T. Uyeda, Hester M. Peirce, and Caroline A. Crenshaw. Uyeda, a Republican, is serving as acting SEC chair following the departure of former Chair Gary Gensler. Appointed as a commissioner in 2022, he has held senior roles at the SEC since 2006 and was previously detailed to the U.S. Senate and executive agencies. Fellow Republican Peirce, appointed in 2018, leads the SEC’s new crypto task force and is focused on regulatory clarity. Crenshaw, a Democrat confirmed in 2020, is a U.S. Army Reserve major and previously held several SEC staff positions.

In a congressional hearing last month, Atkins said the lack of regulatory clarity in cryptocurrency markets is hindering growth and creating uncertainty. “Since 2017, as I have led industry efforts to develop best practices for the digital asset industry, I have seen how ambiguous and non-existent regulations for digital assets create uncertainty in the market and inhibit innovation,” he stated. “A top priority of my chairmanship will be to work with my fellow commissioners and Congress to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach,” the incoming SEC chair affirmed.

“In a 52-44 vote, the Senate has confirmed Paul Atkins to be the next chair of the Securities and Exchange Commission,” Fox Business journalist Eleanor Terrett reported on social media platform X on April 9. Noting that “Atkins may have made history tonight as the first SEC commissioner to get confirmed by the Senate three times. Once in 2002, then again in 2003, and now in 2025,” she further shared:

So what happens now? The Senate will send Atkins’ confirmation to the White House, where President Donald Trump will sign off on it.

“Once that happens, Atkins will be officially sworn in. Timing on these next steps is unclear at the moment,” she noted.

Atkins assumes the chairmanship during a period of strategic realignment at the SEC, particularly in how the agency approaches digital asset regulation. Following the departure of Gensler, the SEC has moved away from its enforcement-first strategy in the crypto sector. Pending cases against cryptocurrency firms have been dropped, and the agency’s tone has shifted toward policy development through dialogue. The crypto task force has intensified outreach efforts and signaled an openness to tailored regulations in partnership with industry stakeholders.

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