SEC Chair Nominee Paul Atkins to Face Senate Panel Next Week

Paul Atkins, the nominee to take over the U.S. Securities and Exchange Commission, is about for a U.S. Senate affirmation listening to subsequent week, placing President Donald Trump’s decide for the SEC chairmanship on observe to begin working as quickly as subsequent month.

At the identical March 27 listening to, the Senate panel can be weighing the nomination of Jonathan Gould to take over the Office of the Comptroller of the Currency, which oversees U.S. nationwide banks — a key space of curiosity for crypto corporations which have fought a protracted battle for banking entry, the Senate Banking Committee introduced in an e mail Thursday.

Atkins is a former fee of the SEC and a digital property advocate who ran a Washington agency advising purchasers on monetary compliance points. He’s anticipated to stick with it the SEC’s pro-crypto momentum that started after Trump returned to the White House and appointed Acting Chairman Mark Uyeda.

The OCC won’t solely be a key company for opening digital asset sector entry to U.S. banking, however it could even be a regulator for future stablecoin issuers, in accordance to present legislative efforts.

The panel will even contemplate Luke Pettit’s nomination to be the assistant secretary for the Treasury throughout Thursday’s session.

Trump nominated Atkins to succeed former SEC Chair Gary Gensler, whose actions heading up the securities regulator drew accusations of “regulation by enforcement” from the crypto trade. Uyeda has modified his predecessor’s strategy since taking on the company on a provisional foundation, withdrawing from a number of lawsuits the SEC filed in opposition to crypto corporations in previous years and pausing others. The SEC has additionally informed plenty of crypto corporations that it was closing investigations into these corporations.