Overview

Paul Atkins, the former SEC Commissioner nominated by President Trump, assured a shift in the SEC’s approach to cryptocurrency during his nomination hearing alongside Jonathan Gould. However, the hearing did not heavily focus on digital assets.

Key Highlights

• Atkins expressed intentions to establish clear regulatory frameworks for digital assets, noting a departure from the stringent oversight of former Chair Gary Gensler.
• Senator Tim Scott praised Atkins’ potential to clarify digital asset regulations.
• Senator Elizabether Warren voiced concerns over Atkins’ impartiality regarding his past advisement in the crypto sector.

Atkins mentioned a commitment to collaborate with colleagues and Congress for a principled regulatory foundation for digital assets. Despite calls for accountability regarding past failures in crypto oversight, the hearing lacked depth in addressing future regulatory steps.

Notable Quotes

“A top priority of my chairmanship will be to work with my fellow commissioners and Congress to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach.” (Paul Atkins)

“I don’t think the SEC has done a damn thing. They’re crooks!” (Senator John Kennedy)

The next move in the confirmation process involves a voting round in the Senate committee.