TLDR
- Paul Atkins has been officially sworn in as the 34th SEC chairman
- Atkins, nominated by President Trump and confirmed by Senate in early April, is a long-time crypto supporter
- He previously served as SEC commissioner from 2002 to 2008
- Atkins has pledged to make creating a regulatory framework for digital assets a “top priority”
- The SEC has recently become more crypto-friendly, dropping enforcement actions and establishing a Crypto Task Force
Paul Atkins was officially sworn in as the 34th chairman of the U.S. Securities and Exchange Commission on April 21, 2025. Nominated by President Donald Trump on January 20 and confirmed by the Senate in a 52-44 vote on April 9, Atkins returns to the commission where he previously served from 2002 to 2008.
“I am honored by the trust and confidence President Trump and the Senate have placed in me to lead the SEC,” Atkins said in a statement. “As I return to the SEC, I am pleased to join with my fellow Commissioners and the agency’s dedicated professionals to advance its mission.”
Atkins emphasized his commitment to facilitating capital formation, maintaining fair markets, and protecting investors. He also stated that under his leadership, the SEC will work to ensure the U.S. is “the best and most secure place in the world to invest and do business.”
Crypto-Friendly Direction
The new chairman is widely expected to usher in a more crypto-friendly regulatory approach than his predecessor, Gary Gensler. During his Senate Banking Committee hearing last month, Atkins made it clear he would prioritize creating a clear regulatory framework for digital assets.
This marks a sharp contrast to the “regulation by enforcement” strategy employed by the Gensler-led SEC. The commission has already begun shifting its stance on crypto since Gensler’s departure in January.
Recent changes include rescinding controversial crypto accounting guidance and dropping enforcement actions against major industry players like Coinbase, Consensys, Gemini, and Uniswap. These moves suggest a more collaborative approach to regulation is taking shape.
The SEC also established a Crypto Task Force in January, led by Commissioner Hester Peirce. This task force is inviting experts to participate in open discussions on various regulatory issues in crypto.
One key focus of the task force is providing clarity on which cryptocurrencies are not financial securities. This has been a major point of contention in the crypto industry for years.
Financial Disclosures and Industry Ties
Atkins’ confirmation was reportedly delayed due to financial disclosure requirements. These requirements stemmed from his marriage into a billionaire family.
The disclosures reportedly included up to $6 million worth of crypto-related investments. These investments included stakes in crypto custody platform Anchorage Digital and blockchain tokenization platform Securitize.
After leaving the SEC in 2008, Atkins founded consulting firm Patomak Global Partners in 2009. The firm’s clients include banks, crypto exchanges, and DeFi platforms, giving him extensive experience with the industry he now regulates.
Atkins has taken over from acting chair Mark Uyeda, who helped establish the SEC’s Crypto Task Force during his interim leadership. The Atkins-led SEC now faces over 70 crypto-related exchange-traded fund (ETF) applications to review this year.
According to Bloomberg ETF analyst James Balchunas, these applications cover a wide range, from established cryptocurrencies like XRP, Litecoin, and Solana to more niche offerings. “Gonna be a wild year,” Balchunas noted.
Fellow Bloomberg analyst James Seyffart described the recent surge in crypto ETF filings as a “spaghetti cannon approach.” He explained that “Issuers will try to launch many many different things and see what sticks” as they test which products the new SEC leadership might approve.
