The Dawn Of New Crypto Era Paul Atkins Officially Sworn In As SEC Chairman
Paul Atkins, President Trumps nominee to chair the U.S. Securities and Exchange Commission, was formally sworn into office on April 21. Atkins, who is a long-time supporter of crypto, assumes the role of the 34th chair of the regulatory agency. He brings a crypto-friendly strategy that contrasts with his predecessors harsh enforcement approach.
Atkins Takes His Oath Of Office As The 34th SEC Chair
Paul Atkins, who served as an SEC commissioner from 2002 to 2008, said he is honored by the trust and confidence President Trump and the U.S. Senate placed in him to lead the Securities and Exchange Commission, and is pleased to begin work with the other commissioners.
As I return to the SEC, I am pleased to join with my fellow Commissioners and the agencys dedicated professionals to advance its mission to facilitate capital formation; maintain fair, orderly, and efficient markets; and protect investors, the new SEC chairman said in a statement.
Atkins vowed to work to ensure that the United States is the best and most secure place in the world to invest and do business.
He was nominated by President Trump shortly after his inauguration on January 20. His nomination was confirmed by the U.S. Senate in a 5244 vote earlier this month.
A Turning Point For Crypto Regulation
Atkins permanently replaces the former SEC boss, Gary Gensler, who the crypto industry widely deemed its biggest nemesis in the U.S. government. Gensler sued myriad crypto companies during the Biden-Harris era for alleged securities violations.
Slamming the Biden governments regulations as unclear, overly politicized, complicated, and burdensome, Atkins has signaled a deregulatory strategy to the nascent crypto industry.
Atkins will be taking over from acting chair Mark Uyeda, who helped the SEC create a Crypto Task Force in January, which is charged with formulating rules and guidance for the industry.
The SEC has also, in recent months, thrown out multiple crypto investigations and lawsuits launched by the Gensler-led commission, including cases involving Coinbase, Robinhood, and Ripple.
The Atkins-led SEC now has more than 70 crypto-related exchange-traded fund (ETF) applications to decide on this year, with crypto assets ranging from Solana (SOL) and Ripples XRP to meme coins such as Dogecoin (DOGE) and MELANIA.
Gonna be a wild year, Bloomberg senior ETF analyst Balchunas posited in an X post.
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Text source: ZyCrypto
