NEWSLETTER
The United States Senate has confirmed Paul Atkins As the new president of the Bag and Securities Commission (SEC) in a 52-44 vote, placing the Wall Street consultant and former Republican commissioner at the head of one of the most powerful financial regulatory agencies in the country.
Atkins, known for its deregulating posture, is expected to enter a more friendly approach to bitcoin and crypto in the SEC, reversing many of the heavy application policies implemented under their predecessor Gary Gensler. Its confirmation follows months of political debate and occurs during a significant transition period in the financial regulation of the United States.
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A vocal critic of what has described as “regulatory overreach”, ATKINS has previously advised several cryptographic companies through its consultant Patomak Global Partners. Industry experts see their appointment as a turning point for bitcoin and crypto in the United States, particularly when the agency redefines its jurisdiction.
The president of the Senate Banking Committee, Tim Scott (RS.C.) applauded Atkins confirmation, affirming on Wednesday that “his mandate will mark a crucial moment to reverse harmful policies of the Biden era, promote capital formation and improve opportunities for retail investors.” “President Atkins will also provide regulatory clarity for digital assets, allowing US innovation and guaranteeing that we continue to be competitive on the global stage,” Scott saying.
Since assuming the position, the Trump administration has already ordered the SEC to reduce its cryptographic supervision. Under interim president Mark Uyeda, the agency dismissed a series of bitcoin and high profile cryptography and issued internal guidance excluding several categories of cryptography.
With Atkins now confirmed, these changes are expected to formalize in a long -term policy. Privileged information suggest that ATKINS will work in close collaboration with the Basic Products Future Commission (CFTC) to implement a more unified framework for bitcoin and crypto, potentially raising the way for the legislation of Congress that redefines how it is regulated in the United States in the United States.
