Senator Lummis Claims Paul Atkins Represents a Victory for Crypto: Who Is the New SEC Chair?
On April 9, 2025, the U.S. Senate appointed Paul Atkins as the latest Chairman of the Securities and Trading platform Commission (SEC). Senator Cynthia Lummi from Wyoming expressed her approval of the decision. She described it as a significant victory for the crypto asset sector.
President Donald Trump selected Atkins for the position in December 2024. Atkins succeeded Gary Gensler, who resigned in January 2025. Gensler’s tenure at the SEC was marked by rigorous regulations and legal actions against crypto asset entities.
Lummis advocates for digital currencies and innovations within distributed record technology. She conveyed optimism regarding Atkins’ leadership. Following Trump’s nomination, Lummis met with Atkins to address essential topics. They covered digital currency legislation, supported Wyoming’s blockchain initiatives, and improved the SEC’s rule-making processes.
She stated that Atkins would instigate beneficial changes at the SEC.
The SEC oversees U.S. financial markets, which include stocks, bonds, and now digital assets like BTC and Ethereum. The SEC is instrumental in determining the classification of digital assets, which influences trading practices, tax obligations, and crypto law regulations.
I’m delighted Paul Atkins has been confirmed as Chairman of the SEC. I had a discussion with Mr. Atkins about digital asset legislation, bolstering Wyoming’s blockchain future & enacting reforms to the regulatory rule-making system. I’m confident his leadership will bring about positive changes. pic.twitter.com/1cpGrNjSrg
— Senator Cynthia Lummis (@SenLummis) April 9, 2025
Paul Atkins as New SEC Chair Might Indicate Change in Crypto Policy
Gensler led the SEC from April 2021 until January 2025. He focused on crypto companies like Ripple and Coinbase, asserting that many crypto tokens were unregistered securities. This stance created frustrations among many within the cryptocurrency community, who sought clearer and more supportive regulations.
Paul Atkins served as a Commissioner at the SEC from 2002 to 2008. He endorses free crypto market principles and has collaborated with blockchain companies, having even invested in Bitcoin as early as 2013.
During his Senate confirmation hearing on March 27, Atkins vowed to offer a new direction. He articulated intentions to establish robust and equitable rules for digital assets. His strategy would emphasize clarity, logic, and are grounded principles.
This shift could facilitate the approval of crypto ETFs and simplify crypto law for businesses. Such measures may draw increased investments and broaden the usage of cryptocurrencies in the U.S.
Lummis envisions that Atkins’ new position aligns with her aspirations for the nation. Wyoming, her state, already has legal frameworks that foster crypto development. She is also advocating for a U.S. Bitcoin reserve.
With Atkins at the helm, there is hope for the crypto industry to finally achieve the clarity it seeks. This juncture could mark the beginning of a new chapter for digital assets in the U.S. or lead to further disarray.
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Key Takeaways
- Paul Atkins was appointed SEC Chairman on April 9, 2025.
- His leadership is anticipated to favor pro-cryptocurrency policies.
- Atkins has a proven track ledger of backing distributed ledger initiatives and investing in BTC.
- His selection may lead to clearer regulations and wider acceptance of digital assets.
The post Senator Lummis Says Paul Atkins Is Win For Crypto: Who is New SEC Chair? appeared first on 99Bitcoins.
