Paul Atkins, the nominee for Chairman of the United States Securities and Exchange Commission (SEC), declared during a congressional hearing on 27 March 2025 that, if appointed, he would prioritise the establishment of a "rational, coherent, and principled" regulatory framework for digital assets. This statement signals a significant departure from the approach of the SEC under its previous chair, Gary Gensler, which had frequently drawn bipartisan criticism for its excessive reliance on enforcement actions.
During the Senate hearing, Atkins elaborated that the current regulatory environment—characterised by ambiguous, overly politicised, complex, and burdensome rules—impedes capital formation and fails to assist investors in understanding genuine risks. The importance of cryptocurrency market regulation is underscored by the fact that approximately 28% of American adults, or roughly 65 million people, own cryptocurrency in 2025, according to the annual report by Security.org—nearly double the figure recorded at the end of 2021. Atkins enjoys staunch support from Senator Tim Scott, the Republican representative from South Carolina and Chairman of the Senate Banking Committee, who has previously emphasised Atkins’ recognition of the growing need for regulatory clarity surrounding digital assets.
Atkins’ nomination, alongside Jonathan Gould, nominee for the U.S. Office of the Comptroller of the Currency (OCC), and Luke Pettit, a Treasury Department nominee, forms part of a broader policy shift within the executive branch, moving away from an enforcement-centric stance towards a more collaborative approach. In his remarks, Atkins affirmed his commitment to protecting investors from fraud, keeping politics out of the application of securities laws and regulations, and promoting clear rules of engagement that encourage investment in the economy for the benefit of all Americans.Sources:
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Tonya M. Evans
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