The US Securities and Exchange Commission (SEC) has a new leader as Paul Atkins takes over from Gary Gensler, marking a significant shift in the regulator’s stance on crypto policy.
Crypto Ally Paul Atkins Sworn In to Replace Gary Gensler Atop U.S. SEC
The formal transition from Gary Gensler‘s leadership of the Securities and Exchange Commission is now complete as ‘trust and confidence’ was placed in Paul Atkins, who has been sworn in to lead the regulator.
Atkins, who was confirmed by the Senate with a 52-44 vote, takes over a commission already working toward friendly digital assets policies and hosting crypto roundtables. The agency’s staff also released statements announcing various corners of crypto as outside its securities jurisdiction.
As part of his transition, Atkins said he’s honored by ‘trust and confidence’ Trump and the U.S. Senate placed in him and is pleased to start work with the other commissioners. He stated that together they will work to ensure that the U.S. is the best and most secure place in the world to invest and do business.
Atkins has worked with digital assets firms and is expected to continue the interim leadership’s reversal of the SEC’s previous crypto resistance. The new chairman had previously served as an SEC commissioner and ran a Washington consulting firm focused on compliance and policy matters. In addition to his Wall Street ties, Atkins had also taken on advisory roles with crypto firms.
The SEC is facing a considerable crypto agenda, potentially made more complicated by Trump’s personal business interests in the industry. Its eventual crypto regulations, though, will largely be directed by future legislation that’s now a priority in Congress.
A Shift in Crypto Policy
Atkins‘ tenure will begin with an incomplete commission, with just four of its five members in place. The sole Democrat — Caroline Crenshaw — is occupying an already expired term. The White House hasn’t yet moved to fill the two Democratic slots on the commission, and other regulators have seen Trump attempt to strip Democratic members of their positions.
The new chairman’s stance on crypto policy is expected to be a significant departure from his predecessor, who was widely seen as the crypto industry’s chief antagonist in the U.S. government.
Crypto policy refers to the set of laws and regulations governing the use, trade, and storage of cryptocurrencies.
These policies vary across countries, with some embracing crypto-friendly environments while others impose strict restrictions.
The United States, for instance, has a mixed approach, with some states allowing cryptocurrency payments, while others prohibit them.
In contrast, Singapore and Switzerland have implemented favorable tax regimes to attract blockchain innovation.
As the global economy becomes increasingly digital, governments are reevaluating their crypto policies to balance innovation with financial stability.
