Democratic lawmakers criticize SEC Chairman elect Paul Atkins for conflicts of interest with the cryptocurrency industry

Golden Finance reported that Paul Atkins, Trump's nominee for the position of Chairman of the Securities and Exchange Commission (SEC), was recently questioned during a Senate hearing. Democratic Congressman Elizabeth Warren pointed out that Patomak Global Partners, a consulting firm founded by Atkins that has served cryptocurrency companies including FTX, carries a risk of conflict of interest. Atkins has a net worth of over $327 million and has promised to sell shares of the company if elected, but has refused to disclose details of the transaction. The hearing focused on its regulatory stance, with Atkins stating that the main cause of the 2008 financial crisis was the subprime mortgage crisis rather than regulatory easing. Regarding cryptocurrency, he stated that "clear rules" will be established, but did not disclose specific plans. Republican Congressman Tim Scott calls for addressing banking service discrimination faced by cryptocurrency companies. Warren questioned the possibility of "disguised bribery" in the sale of his shares, but Atkins did not respond directly. If the nomination is approved, its policy direction may affect the SEC's regulatory efforts in the cryptocurrency industry.