Senate Confirms Crypto-Friendly Paul Atkins as Gensler's SEC Successor
Paul Atkins has been confirmed as the new SEC chair, with 52 Republicans voting in favor and 44 Democrats opposing. Atkins, a pro-crypto advocate, aims to reform the SEC's digital assets policy, contrasting with former chair Gary Gensler's approach, which involved lawsuits against major crypto firms. Atkins emphasizes establishing a coherent regulatory framework for digital assets. He has significant personal investments in the crypto sector, including a stake in a crypto investment firm and previous equity in Anchorage Digital and Securitize. The SEC currently operates with three commissioners and has adopted pro-crypto policies, dismissing major lawsuits against crypto companies. President Trump may seek to appoint two Democrats to the SEC, despite recent firings of Democratic commissioners in other agencies, potentially challenging long-standing protections against firing independent agency commissioners.
