Crypto proponent Paul S. Atkins officially assumed the role of the 34th US Securities and Exchange Commission (SEC) Chairman on Monday. Earlier this month, the Senate Banking Committee registered votes 13 to 11 in favor of his nomination. After heading the nomination to the full Senate, Atkins moved one step closer to becoming the SEC Chair.
Moreover, Atkins was nominated by US President Donald Trump on January 20 and confirmed by the US Senate on April 9, 2025. Before swearing in as the Chair, Atkins served as the Chief Executive of the Washington consulting firm Patomak Global Partners, where he handled regulatory compliance, business strategy, and litigation support for financial service firms.
Responding to the appointment as the new SEC head, Atkins said that he is honored by the “trust and confidence” President Trump and the Senate have placed in him to lead the commission.
Atkins added that he would be happy to work with other SEC professionals to achieve the commission’s mission to facilitate capital formation, protect investors, and maintain fair and efficient markets.
“Together we will work to ensure that the U.S. is the best and most secure place in the world to invest and do business.”
Pro-Republican businessman Atkins has served as the SEC Chair from 2002 to 2008 during the administration of George W. Bush. However, Elizabeth Warren, Committee Ranking Member, has rebuked Atkins for his poor judgment during the 2008 financial crisis.
As Trump’s pro-crypto administration is riding the nation to become crypto-friendly, the SEC would perhaps eye to legitimize several cryptocurrencies as registered securities— a core issue that vexed crypto companies during Gary Gensler’s (previous SEC Chair) tenure. Recently, the SEC has dropped its lawsuit against Ripple Labs/XRP, Coinbase, and Kraken, reportedly paving the way for more cryptocurrencies to gain legal clarity.
