The American crypto industry may be on the eve of a historic change of course. Paul Atkins, former SEC commissioner and pronounced in favor of Crypto, is in the picture as the new chairman of the American stock market watchdog. His appointment, nominated by Donald Trump on December 4, will be discussed on 27 March during a hearing in the Senate.
Trump chooses Atkins
The appointment of Paul Atkins comes within the SEC at a time of major shifts. After the departure of Gary Gensler on January 20, the regulator will be temporarily led by Mark Uyeda.
Gensler was known for his strict and often hostile attitude towards the crypto industry. The possible appointment of Atkins would therefore mean a clear break with the past and heralds a fundamental change of course.
Atkins is no stranger within SEC: between 2002 and 2008 he was already a commissioner. After his departure, he founded Patomak Global Partners, a consultancy firm with several customers from the crypto world. He is also active as a consultant at The Digital Chamber, an influential interest group for digital assets.
Within the sector, Atkins is known as a conservative thinker with a pronounced market -oriented vision. His hearing was previously delayed by issues regarding financial disclosures, partly because of the assets of his wife, from a billionaire family.
Sec tips towards crypto
The timing of Atkins’ possible appointment is striking, because the SEC already gave signals of a change of course in recent weeks. For example, controversial accounting guidelines for crypto were withdrawn and various lawsuits suddenly stopped. Among other things, the legal proceedings against Coinbase, OpenSea, Uniswap and Ripple have recently been dismissed – a clear indication that the policy is shifting.
At the same time, more than 60 applications for Spot ETFs await approval, indicating a strongly growing interest from institutional investors. If the Senate quickly agrees with the appointment of Atkins, he can almost immediately get started with these important files.
The hearing on March 27 is therefore tension followed by the crypto industry. A definitive appointment of Atkins could be the starting signal for a much friendlier regulation climate in the United States. For a sector that was under fire from supervisors for years, that would mean a historic turning point.
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Source: https://newsbit.nl/crypto-sector-kijkt-uit-naar-27-maart-senaat-bespreekt-benoeming-paul-atkins-bij-sec/
