Crypto-friendly business figure Paul Atkins was sworn in as chairman of the SEC on Monday, the regulator announced in a statement. Atkins was nominated by U.S. President Donald Trump on the 20th of January, and confirmed by the U.S. Senate on the 9th of April in a 52-44 vote.
“I am honored by the trust and confidence President Trump and the Senate have placed in me to lead the SEC,” said Atkins.
“As I return to the SEC, I am pleased to join with my fellow Commissioners and the agency’s dedicated professionals to advance its mission to facilitate capital formation; maintain fair, orderly, and efficient markets; and protect investors. Together we will work to ensure that the U.S. is the best and most secure place in the world to invest and do business.”
Who is Paul Atkins?
Atkins was the commissioner of the SEC from 2002 to 2008, appointed by former President George W. Bush. He created Patomak Global Partners in 2009 and was CEO of the company until his new appointment as SEC chair.
Chairman Atkins was also an independent director and non-executive chairman of the board of the BATS Global Markets from 2012 to 2015.
Paul Atkins has been a key figure in the digital assets sector. He served as co-chairman of the crypto advocacy group Digital Chamber’s Token Alliance since 2017.
He will take over from interim chief Mark Uyeda, who was appointed by Trump after former SEC Chair Gary Gensler stepped down on January 20th, 2025.
How will this impact cryptocurrency in the U.S.?
The appointment of Paul Atkins signals an optimistic outlook for cryptocurrency in the U.S. Atkins has been perceived to be crypto-friendly and is expected to be a key figure in Donald Trump’s largely pro-crypto administration. Atkins could take a stance more flexible in terms of regulation, which could benefit cryptocurrencies and companies operating in this sector. Atkins has suggested he seeks to establish clear, principles-based regulatory guidelines for digital assets, which could facilitate the entry of institutional players into the cryptocurrency market.
While most see this appointment as a positive move, some analysts are concerned about Atkins’ personal financial interests in the crypto sector. There are concerns in the industry regarding Atkins being favorable to his former clients.