Atkins Approved by U.S. Senate to Replace Gensler as SEC Chairman

Key Points:

• Paul Atkins has been confirmed by the U.S. Senate as the new chair of the Securities and Exchange Commission.

• A former Republican commissioner appointed by President Donald Trump, Atkins is expected to support policies favorable to cryptocurrency.

Paul Atkins is one step away from officially taking charge of the U.S. Securities and Exchange Commission as President Donald Trump's nominee to oversee the country's securities, including the crypto sector.

A swearing-in ceremony will soon make the former SEC commissioner the head of the prominent regulator, a move welcomed by the digital assets industry, which views him as a strong ally due to his extensive experience advising crypto firms as a financial-services consultant in Washington. Atkins' Senate confirmation was easily secured on Wednesday with a 52-44 vote.

A well-established figure in U.S. financial policy, both in government and as an external advisor, Paul Atkins was widely expected to pass confirmation with ease. However, the Senate Banking Committee approved his nomination along party lines, with all Democratic members opposing him.

Atkins' confirmation took several months to process, and during the gap between Gary Gensler's exit and Atkins' arrival, interim SEC head Mark Uyeda quickly implemented a major overhaul of crypto regulations. Under Uyeda, the SEC dismissed most of its high-profile digital asset enforcement cases and clarified that some parts of the industry—such as certain stablecoins, memecoins (including $TRUMP), and proof-of-work mining—fall outside its jurisdiction.

These regulatory changes align with issues involving Trump’s family crypto ventures, such as their memecoins and connections to World Liberty Financial, which is developing its own stablecoin. Atkins will now be responsible for applying permanent policies in these areas, potentially guided by upcoming legislative action that Congress is focused on.

Atkins will begin his role with an incomplete commission, as the SEC typically operates with five members. The current lone Democrat, Caroline Crenshaw, is serving beyond her term, and the White House has yet to appoint replacements for the two vacant Democratic positions.