The confirmation date for the new chairman of the Securities and Exchange Commission, Paul Atkins, is yet to be set due to a parked schedule for the Senate.
The new Trump administration’s transition era is in full swing, and the Senate has not yet voted on nine cabinet members.
Eleanor Terret of Fox Business revealed that the nine cabinet members are in line for confirmation before Paul Atkins, which is why the confirmation of the new SEC Chairman was delayed.
Paul Atkins would first be screened by the U.S. Senate Committee on Banking, Housing, and Urban Affairs, led by Chairman Senator Tim Scott. There is no date for this yet.
If the new SEC Chairman scales this screening as expected, the Senate will vote on him.
At the time of the report, Mark Uyeda was the Commission’s Acting Chairman, alongside Commissioner Hester Peirce, who heads the crypto task force.
In an interview with Fox Business, Mark Uyeda stated that the policies under Gary Gensler were stringent and frustrated the crypto industry. He believes the new SEC administration, which he chairs now, will move in the opposite direction.
What Does Paul Atkins Think of Crypto?
The incoming SEC chairman, Paul Atkins, has said nice things about cryptocurrency and even served as Co-chair at Token Alliance, a crypto lobbying group under the Chamber of Digital Commerce.
He famously criticized the SEC’s regulation-by-enforcement approach, advocating for a more accommodating strategy that encourages collaboration between regulatory bodies and crypto entities.
Atkins’s approach to the crypto industry is summarized in his efforts to establish clear guidelines and promote the mainstream adoption of crypto assets.
His appointment was welcomed by the crypto industry and seen as a breath of fresh air from the Gary Gensler-led administration, marred by litigation and mixed signals.
