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6d ago

Paul Atkins Sworn In as SEC Chair, Signaling Pro-Crypto Regulatory Shift

Atkins assumes leadership with a focus on fostering digital asset innovation, addressing a backlog of crypto ETF applications, and navigating ethics scrutiny.

Representations of cryptocurrencies are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration
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Overview

  • Paul Atkins officially became the 34th Chair of the U.S. Securities and Exchange Commission after a 52-44 Senate confirmation vote.
  • Atkins inherits a backlog of 72 crypto-related ETF applications, including assets like Solana, XRP, and meme coins such as Dogecoin and Pengu.
  • The SEC, under Atkins, has shifted from aggressive enforcement to a collaborative approach, dropping cases against Web3 firms like Binance and Coinbase.
  • Atkins has vowed to provide regulatory clarity for digital assets, emphasizing a rational and principled approach to balance innovation and investor protection.
  • Senator Elizabeth Warren has called for transparency regarding Atkins' advisory work at Patomak Global Partners, raising concerns about potential conflicts of interest.