Paul Atkins, President Donald Trump’s nominee to chair the US Securities and Exchange Commission, signaled a sharp shift in the agency’s regulatory posture on Wednesday, vowing to implement a “rational, coherent, and principled” framework for digital assets.
His remarks, released in prepared testimony ahead of Thursday’s Senate confirmation hearing, position Atkins as a crypto-friendly regulator seeking to rein in what he described as burdensome and overly politicized oversight.
Atkins, who previously served as an SEC commissioner under President George W. Bush, criticized the agency’s approach to crypto regulation under the Biden admin, calling it “ambiguous and non-existent” and a barrier to innovation.
“Since 2017, as I have led industry efforts to develop best practices for the digital asset industry, I have seen how ambiguous and non-existent regulations for digital assets create uncertainty in the market and inhibit innovation,” he said.
SEC Poised for Policy Overhaul as Atkins Pledges Pro-Growth Crypto Framework
In his testimony, Atkins pledged to work alongside fellow commissioners and lawmakers to establish clear rules that foster innovation while protecting investors.
“It is time to reset priorities and return common sense to the SEC,” he added, arguing that excessive regulation has stifled capital formation and confused retail investors with overly complex disclosures.
The confirmation hearing comes as the SEC begins reassessing its stance on digital assets under a new administration. Since January, the Trump White House has issued several pro-crypto executive orders and is actively working to roll back regulations adopted under former SEC Chair Gary Gensler.
Atkins enters the confirmation process with notable financial ties to the crypto sector. In an ethics filing released Tuesday, he disclosed up to $6m in crypto-related investments, including equity stakes in Anchorage Digital and tokenization platform Securitize.
He also reported between $1m and $5m in the crypto investment fund Off the Chain Capital, where he is a limited partner. While none of the holdings include Bitcoin, the disclosure highlights Atkins’ deep exposure to the industry he may soon be charged with regulating.
Together with his wife, Sarah Humphreys, Atkins reported total assets of up to $327m, mostly derived from his consulting firm Patomak Global Partners and her family’s business, Tamko Building Products. The couple’s combined holdings could exceed $588m based on upper-range estimates.
But Atkins’ nomination has already drawn fire from Senate Democrats. Sen. Elizabeth Warren, a longtime crypto skeptic, has demanded clarity on his ties to collapsed exchange FTX, which is listed as a creditor of Patomak in bankruptcy filings. In a letter this week, Warren urged Atkins to explain his advisory work and how he would avoid conflicts of interest in overseeing digital asset markets.
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