2 weeks ago
Paul Atkins has taken the oath to formally go chairman of the U.S. Securities and Exchange Commission, which returns Mark Uyeda to his erstwhile relation arsenic a Republican Commissioner aft 3 engaged months of work arsenic the agency's stand-in chief.
Atkins permanently replaces the erstwhile chair, Gary Gensler, who the crypto manufacture had wide seen arsenic its main antagonist successful the U.S. government. But Uyeda and chap Commissioner Hester Peirce person already enactment the SEC connected a way toward greater acceptance of integer assets, forming a crypto task force, shedding a agelong database of manufacture enforcement actions and gathering manufacture representatives astatine a series of crypto roundtables. The agency's unit besides released statements announcing assorted corners of crypto arsenic extracurricular its securities jurisdiction.
The caller president said he's honored by the "trust and confidence" Trump and the U.S. Senate placed successful him and is pleased to commencement enactment with the different commissioners.
"Together we volition enactment to guarantee that the U.S. is the champion and astir unafraid spot successful the satellite to put and bash business,” helium said successful a statement.
Atkins, who was confirmed by the Senate arsenic President Donald Trump's nominee earlier this month, had antecedently served arsenic an SEC commissioner and ran a Washington consulting steadfast focused connected compliance and argumentation matters. In summation to his Wall Street ties, Atkins had besides taken connected advisory roles with crypto firms.
The Senate easy approved Atkins with a 52-44 vote, though the Senate Banking Committee had precocious his confirmation along enactment lines. All the panel's Democrats opposed the nominee, including Senator Elizabeth Warren, who criticized Atkins' erstwhile tenure astatine the SEC from 2002 to 2008, tying it to the 2008 planetary fiscal crisis.
The SEC is facing a sizeable crypto agenda, perchance made much analyzable by Trump's idiosyncratic concern interests successful the industry, including successful World Liberty Financial's stablecoin and successful memecoins (such arsenic the president's ain $TRUMP). Its eventual crypto regulations, though, volition mostly beryllium directed by aboriginal authorities that's present a precedence successful Congress.
Atkins' tenure volition statesman with an incomplete commission, with conscionable 4 of its 5 members successful place. And the sole Democrat — Caroline Crenshaw — is occupying an already expired term. The White House hasn't yet moved to capable the 2 Democratic slots connected the commission, and different regulators person seen Trump effort to portion Democratic members of their positions.
Read More: Trump's Pick to Run SEC Paul Atkins Promises New Crypto Stance, Gets Few Questions
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