1 of 5 | Treasury Secretary Scott Bessent swears in Paul Atkins as Chairman of the Securities and Exchange Commission during a ceremony Tuesday in the Oval Office of the White House in Washington, D.C., where Atkins vowed to provide a “firm, regulatory foundation for digital assets.” Photo by Bonnie Cash/UPI | License Photo
April 22 (UPI) — Paul Atkins, who was nominated by President Donald Trump in what some say was a nod to the crypto industry, was sworn in Tuesday to become the next chairman of the Securities and Exchange Commission.
Atkins was sworn in by Treasury Secretary Scott Bessent during an Oval Office ceremony at the White House, as he vowed to provide a “firm, regulatory foundation for digital assets.”
“At the helm of the SEC, I can confidently say it is a new day. It’s time for the SEC to end its waywardness and return to its core mission that Congress set for it: investor protection, fair, orderly and efficient markets and capital formation,” Atkins said.
“I will work to protect investors from fraud and keep politics out of our securities laws and regulations, and advance clear rules that encourage investment in our economy to the benefit of Americans,” he added.
Atkins will permanently replace the SEC’s former chair, Gary Gensler, after being confirmed by the Senate with a 52 to 44 vote earlier this month. Atkins had previously served as an SEC commissioner and ran a Washington consulting firm on compliance and policy. Atkins has also served on advisory roles with crypto firms, including Token Alliance.
Mark Uyeda, whom Trump named as acting chair on Jan. 20, will return to his former role as the SEC commissioner.
Securities and Exchange Commission member Hester Peirce, who is currently leading the agency’s crypto task force, said she has “very high regard” for Atkins’ “integrity.”
“He cares about economic growth and how the markets that we regulate can support economic growth,” Peirce told Cointelegraph. “I would love the chance to work with Atkins on trying to reorient the agency so that it does take into consideration all aspects of our mission.”
“I think we’re all trying to get to a good place, which is putting some clarity around crypto, some regulatory clarity,” Peirce added.
Since Trump took office, the SEC has dropped two key cases against cryptocurrency marketplaces. The SEC agreed to drop charges against Coinbase for allegedly illegally selling securities. Coinbase said the case “should never have been filed in the first place.” And Robinhood Cryptocurrency announced that the SEC was ending its investigation into the company over possible violations of securities law.
Trump says he is committed to making the United States the “crypto capital.” In a January executive order, Trump said he wants the United States to adopt digital assets and establish a government stockpile.
Atkins also vowed Tuesday to help the president advance his agenda “to bolster the economy and build on U.S. leadership of the global markets.”
“A top priority of my chairmanship will be to provide a firm, regulatory foundation for digital assets through a rational, coherent and principled approach,” Atkins said.
“We will work to ensure that the United States is the best and most secured place in the world to invest and to do business.”
