U.S. Senate confirms Paul Atkins as new SEC chairman

The US Senate confirmed Paul Atkins as a new president of the Securities and Exchange Commission during a 52-44 vote held on Wednesday April 9.

Following confirmation, Atkins was authorized to direct a regulatory agency which currently undergoes major policy changes, according to Reuters. Atkins, an experienced veteran of the dry and frank defender of the cryptography industry, was appointed By President Donald Trump to succeed Gary Gensler, who resigned in January after years of conflict with digital asset companies.

Atkins was a SEC commissioner from 2002 to 2008 under President George W. Bush. Since then, he has managed a regulatory consulting firm and has advised several financial and cryptographic startups. He also co -chaired the Token Alliance, a group promoting the blockchain innovation, and even testified in court as a defense companies of expert witnesses pursued by the SEC led by Gensler.

Ethics deposits show that Atkins and his wife hold between $ 327 million and $ 588.8 million in total assets, with around $ 6 million linked to digital assets. Until recently, he held equity and options in Anchorage Digital and Securitize, two large cryptography companies and a limited participation of $ 5 million in the Crypto Investment Fund off the Capital chain. Now that he is confirmed, he has agreed to decide on all cryptographic participations.

During its pre-confirmation hearing of March 27, Atkins promised to introduce clear rules for digital assets and reduce political interference in regulatory decisions. He criticized the past policies of the dry under people in people and too aggressive, arguing that they have slowed down innovation and harmed the formation of capital. “It’s time to make common sense to dry,” he told the Senate panel.

The appointment was not without controversy. Senator Elizabeth Warren led the democratic opposition, citing Atkins’ close ties with the financial industry and her role during the 2008 financial crisis. She warned that putting it in charge of the dry could weaken investors and give too much power to cryptographic lobbyists.

The initiates of the industry expect ATKINS the attention of the application and the creation of a plus united Environment for cryptographic innovation. Its confirmation comes after the acting president Mark Uyeda and Commissioner Hester Peirce recently reduced the number of proceedings against cryptographic societies and examined the agency’s approach to digital assets.

The appointment of Atkins is aligned with the efforts of the Trump administration to make the United States a world center for digital assets. With Atkins who should soon take office, many in the industry consider this as a sign that blockchain -based financial products will be adopted more widely and that the approvals of funds negotiated in exchange will occur more quickly.