Paul Atkins, recently
President Donald Trump’s nominee was officially sworn in as the new chairman of the U.S. Securities and Exchange Commission (SEC) after a decisive 52-44 vote in the U.S. Senate. The confirmation came on April 9, marking a new chapter for the regulatory agency.
The SEC commissioners expressed excitement about Atkins’ arrival. “We welcome Paul Atkins as the next chairman of the SEC. A veteran of our Commission, we look forward to having him join us, along with our dedicated team, to fulfill our mission on behalf of the investing public,” they said in an official statement.
Following his victory in the 2024 presidential election, Trump kept his promise to the crypto community by appointing Atkins to the position, replacing Gary Gensler. The move was seen as a significant step towards a less restrictive approach to regulations.
Atkins is not new to the SEC; he previously served as a commissioner from 2002 to 2008, and is known for his support of reducing regulations and promoting financial innovation, with a particular focus on the cryptocurrency sector.
Taking over from Mark Uyeda, who has been acting chairman since January, Atkins inherits the legacy of Gensler, whose administration was marked by a strict stance on cryptocurrency regulation and financial market oversight. This approach had drawn criticism from various sectors of the market.
During his administration, Trump also established a Cryptocurrency Task Force at the SEC, which aims to engage the industry on regulatory issues and review policies and actions previously initiated under the Gensler administration.
At his Senate confirmation hearing in March, Atkins stressed that his main goal would be to establish a clear and rational regulatory framework for digital assets. His confirmation process, however, faced delays due to additional financial disclosure requirements related to his marriage into a wealthy family.