A longtime adviser to crypto currency firms, Atkins is expected to take a friendly approach to crypto regulation.
The Senate voted on Wednesday to confirm Paul Atkins, a former commissioner of the Securities and Exchange Commission (SEC), to return to the agency—this time as its chair.
Atkins’s confirmation passed in a 52–44 vote following a party-line approval from the Senate Banking Committee last week.
Vowing to uphold the SEC’s core mission, Atkins said during his confirmation hearing that he would work with fellow commissioners and Congress to ensure that the agency adopts reasonable rules that promote corporate transparency while also encouraging innovation. He also pledged “to keep politics out of how our securities laws and regulations are applied.”
Atkins was asked at the hearing how he would respond to a request for collaboration from the Department of Government Efficiency (DOGE), which is spearheading sweeping deregulation and cost-cutting efforts.
“If there are people who can help with creating efficiencies in the agency or otherwise, I would definitely work with them,” Atkins said. “We’ll be reviewing what’s happening at the Commission to ensure taxpayer funds are being used properly and that the Commission’s work is being done effectively and efficiently.”
Sen. Tim Scott (R-S.C.), who chairs the Senate Banking Committee, was supportive of Atkins’s confirmation.
“His tenure will mark a pivotal moment to roll back harmful Biden-era policies, promote capital formation, and enhance opportunities for retail investors,” Scott said in a statement on Wednesday. “Chairman Atkins will also provide regulatory clarity for digital assets, allowing American innovation to flourish and ensuring we remain competitive on the global stage.”
Atkins is no stranger to the SEC. He previously served as a commissioner from 2002 to 2008 during the Bush administration, and earlier in his career, he worked on the staff of former SEC Chairs Richard C. Breeden and Arthur Levitt from 1990 to 1994.
By Bill Pan
