New SEC Chair Promises Radical Crypto Reforms—Vows to Make US the Top Investment Hub

CN
11 hours ago

Paul Atkins officially assumed leadership of the U.S. Securities and Exchange Commission (SEC) during a swearing-in ceremony held last week.

President Donald Trump praised Atkins’ background in the crypto sector at the event, emphasizing his prior role: “Paul has also been a leader in the emerging crypto and blockchain industries and served as co-chair of the Digital Chambers Token Alliance.” Trump further expressed confidence in Atkins’ abilities: “He’s the perfect man to lead this agency at a time when crypto-innovators are urgently in need of … regulatory certainty and clear rules of the road.” Additionally, Trump criticized the prior administration:

Paul will end the weaponization of the SEC and stop the lawless enforcement practices that occurred during the Biden administration.

Speaking after taking the oath, Atkins underscored a sharp pivot in regulatory priorities. “So at the helm of the SEC, I can confidently say it is a new day,” he stated: “It’s time for the SEC to end its waywardness and return to its core mission that Congress set for it: investor protection, fair, orderly, and efficient markets and capital formation.” He vowed to shield investors from fraudulent practices, maintain political neutrality in law enforcement, and establish transparent guidelines that drive economic growth.

Outlining his approach to digital assets, Atkins declared:

A top priority of my chairmanship will be to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach. We will work to ensure that the United States is the best and most secure place in the world to invest and to do business.

When questioned about potential conflicts between the SEC and the Commodity Futures Trading Commission (CFTC), Atkins said he was optimistic about collaboration. He highlighted CFTC nominee Brian Quintenz, noting he had known him for years and intended to work closely with him. Atkins added that he looked forward to Quintenz’s leadership and saw no reason the two agencies could not work closely together on issues affecting American investors and the economy.

Many in the cryptocurrency sector have reacted positively to Atkins’ appointment, hopeful for an end to the controversial regulation-by-enforcement seen under former SEC Chair Gary Gensler. Strategy executive chairman Michael Saylor expressed his support by posting on social media platform X:

SEC Chairman Paul Atkins will be good for bitcoin.

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