The former American Commission of Securities and Stock Exchange (SEC) Paul Atkins is to appear before legislators in the Senate Banking Commission on March 27 as part of the efforts of Trump’s administration in order to obtain the president’s election to high -level government positions.
From the time when US President Donald Trump took office on January 20, SEC, under the leadership of the compulsory chairman Mark Uyed, abandoned several investigation and enforcement activities against the main cryptographic companies, many of which have been in court for months or years. Many analysts perceive the latest SEC as an administration acting on her campaign of promises of the cryptographic industry, some of which directly transferred the candidate to the then presidential or his inaugural fund after the November 5 election.
Commission’s actions – which include a statement that Memecoins are not securities – they are also in a clear contrast with its position under the former chairman of Gary Gensler, which led many to speculation that SEC under Trump’s rule will lead to the developing American cryptocurrency cryptocurrency industry essentially free from regulatory control.
Atkins, whom Trump chose in December 2024 and officially nominated after taking office, received support from industry players at Coinbase and Ripple, both of which were ongoing enforcement activities brought by SEC. Since then, cases have been abandoned.
Considering the apparent SEC regarding the enforcement of cryptocurrencies and potential conflicts of Trump’s interests with the industry-from the Cryptographic Company of World Liberty Financial and the launch of their own memecoin-non-non-citizens of the legislators will probably challenge atkins’ views on digital assets during the confirming hearing.
If it is confirmed by the Senate, Atkins may return to the future, completely controlled by the SEC Republicans, and the democratic Commissioner Caroline Crenshaw will leave to 2026.
https://www.youtube.com/watch?v=JMQJ01_zka8
It is not clear whether ATKINS will have votes to pass the trial confirming the banking committee or full voting in the Senate. Republicans have a 53-member majority in the Chamber with only 51 votes required by the nominee confirmation, and except for the former representative of Matt Gaetz for the US Prosecutor General-they did not suggest that they were going to oppose any Trump’s election for key government positions.
Democratic opposition to the Atkins nomination
Senator Massachusetts Elizabeth Warren, the highest democrat in the banking committee, which often equalized the crypto of drug trafficking and other illegal activities, he said In a letter from March 23 to Atkins that she had concerns about his potential role in Sec after his consulting company, Pathomak Global Partners, was an advisor to the non -existent Crypto Exchange FTX. He was also an advisor to the Chamber of Digital Commerce Group.
“Your deep involvement in FTX and other highly paid cryptographic clients raises questions about your approach to the regulation of cryptocurrency-and concerns about the scope of your knowledge about illegal FTX activities,” said Warren, adding:
“Your financial connections with industries that you soon regulate, you raise serious concerns about the ability to avoid conflicts of interest as a regulator.”
Warren suggested that some members of the Senate would probably question the selection of Trump about SEC recently dropping enforcement matters against cryptographic companies, reports that Trump’s family had talked with Binance about the purchase of shares in the company, as well as a possible pardon for the former general director of Binance Changpeng Zhao.
She suggested that ATKINS could also communicate with the republican commissioners of Sec Uyeda and Hester Peirce after the nomination.
Related: Sec is waiting for a chair before setting the cryptographic program – Hester Peirce
He had already done this before interrogation Underworld with republican legislators in the committee, including the Senator Wyoming Cynthia Lummis. Cointelegraph contacted the Lummis office regarding the commentary on the Atkins nomination, but did not receive an answer at the time of publication.
If his nomination passed through the Banking Commission and the Senate, Atkins would probably be confirmed until the term ending in June 2031, embracing as the chairman from Uyedy. In addition to the abandonment of the investigation and enforcement committee, the chairman of SEC, who proposed to abandon the provisions requiring cryptographic companies to register in the agency.
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