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coinpedia 2025-03-21 05:08:45

Paul Atkins’ SEC Nomination: A Game Changer for Crypto Regulation?

The post Paul Atkins’ SEC Nomination: A Game Changer for Crypto Regulation? appeared first on Coinpedia Fintech News The US SEC is gearing up for a major leadership change, and the crypto world is paying close attention. Paul Atkins, a known supporter of digital assets, is set to appear before the Senate Banking Committee on March 27 for his confirmation hearing. If approved, he could take over as SEC Chair as early as April. His nomination signals a big shift from the tough enforcement approach seen under former SEC Chair Gary Gensler. A New Era for Crypto Regulation? Eleanor Terrett reports that Donald Trump’s SEC Chair nominee, Paul Atkins, is set to face the Senate Banking Committee for his nomination hearing next Thursday. Alongside him, Jonathan Gould, Trump’s pick for the Office of the Comptroller of the Currency (OCC), will also have his hearing. However, Atkins is no stranger to the SEC—he’s served as a commissioner before and has spent years advising on financial compliance. Unlike past regulators, he believes in a more balanced approach to crypto oversight, focusing on growth rather than aggressive crackdowns. The SEC’s Softened Approach Since stepping in on January 20, Interim Chair Mark Uyeda has made big moves that have given the crypto industry some breathing room. A crypto task force, led by Republican SEC Commissioner Hester Peirce, was formed last month to address key regulatory issues, including defining which crypto assets qualify as securities. Several lawsuits against major platforms—like Coinbase, Uniswap, Robinhood Crypto, OpenSea, and Kraken—have been dropped. And just this week, the SEC finally closed its long-running case against Ripple, removing one of the biggest regulatory threats to XRP. Meanwhile, the agency is also reviewing over 60 spot crypto ETF proposals, signaling potential shifts in its approach to crypto regulation. Trump’s Crypto Push Atkins isn’t the only sign of change. President Trump has been pushing a more crypto-friendly agenda, recently signing an executive order to establish a strategic Bitcoin reserve. Some experts believe this reserve could soon expand to include altcoins like XRP, signaling broader government acceptance of digital assets. Warnings from Experts Not everyone is on board with the SEC’s restructuring. According to a Bloomberg report , legal and academic experts are raising alarms over the SEC’s restructuring, warning that major staff and leadership cuts could weaken investor protection and market stability. A group of top academics, including Joel Seligman, compared the situation to the period before the 2008 financial crisis when weak oversight led to market failures. They fear that if the SEC loses its grip to enforce regulations, bad actors in the financial markets could take advantage, putting investors at greater risk.

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