Paul Atkins was confirmed as the new chairman of the US Securities and Exchange Commission (SEC) on April 9 with a 52-44 Senate vote, signaling a significant shift toward a crypto-friendly regulatory approach. Atkins' appointment is particularly significant for the crypto community. He previously held a $5 million stake in a crypto investment firm pledged to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach. However, Dennis M. Kelleher, co-founder of Better Markets, criticised Atkins' past, blaming him for deregulation that contributed to the 2008 financial crisis.
As of February 2025, Atkins held equity valued between $250,000 and $500,000 in crypto custodian Anchorage Digital and similar amounts in call options for Securitise, a BlackRock-backed blockchain firm. The former SEC commissioner (2002-2008) promised to work on digital asset regulation rationally, coherently, and principled. Acting chair Mark Uyeda had taken several crypto-friendly measures in recent months, halting major enforcement actions and redefining the agency's jurisdiction over stablecoins, proof-of-work mining operations, and memecoins.
The long-term significance of this regulatory shift lies in the potential for a comprehensive US approach to digital assets following Gary Gensler's previously strict enforcement policies. Senate Banking Committee Chairman Tim Scott expressed confidence in Atkins' leadership, emphasising that he "will provide regulatory clarity for digital assets, allowing American innovation to flourish." The new SEC leadership is expected to continue Uyeda's crypto-friendly approach, potentially providing greater operational freedom for major crypto companies like Ripple, Coinbase, and Binance.
Sources:
1.
Bhushan Akolkar
2.
OneSafe Content TeamApr 10, 2025•5 min read
3.
Ben Weiss
4.
Bena Ilyas
