The US Senate has confirmed Paul Atkins as the next US SEC chair after a slim victory for the former Wall Street consultant on Wednesday.
Popular FOX Business journalist Eleanor Terret confirmed the development in an early Thursday tweet. Yesterday, Paul Atkins received the US senatorial nod following a 52-44 polling outcome.
Notably, the win confirms Atkins as the next US Securities and Exchange Commission boss, pending a White House confirmation. He will now replace Gary Gensler, the former chair whose tenure was marked by an incessant clampdown on the digital asset sector.
Atkins Emerges as US SEC Boss
Atkins pushed past the Senate Banking Committee a week ago with another slim 13-11 victory, setting him up for yesterday’s vote. Bagging another approval, the Wall Street consultant becomes the first SEC commissioner to receive senatorial confirmation thrice.
For context, he served as an SEC commissioner under President George W. Bush between 2003 and 2008. Before taking on the role, he received the backing from the senate first in 2002 and then in 2003.
Meanwhile, Atkin’s swearing-in has inched closer with yesterday’s polling victory. He will officially resume office once Donald Trump signs off on his senatorial approval and will serve for the remainder of the tenure, expiring on June 5, 2026.
Atkin’s Pro-Crypto Portfolio
Trump nominated Atkins in December following his emergence as the 47th US president in the November 5 polling process. Reports have it that Trump tapped him to replace Gensler as he ticks all the boxes in the Republican president’s ideal SEC chair.
Aside from his wealth of experience as SEC commissioner, Atkins also positively perceives cryptocurrencies, a key ingredient in Trump’s chair qualities. Recall that the pro-Bitcoin president vowed to create clear regulations for the nascent industry and make America the crypto capital of the world.
Meanwhile, Atkins founded Patomak Global Partners, a Washington-based consultancy firm. The company served prominent crypto firms, with the Wall Street Journal alleging it worked closely with the now-defunct crypto exchange FTX.
Interestingly, the new SEC chair is notorious for his bullish stance on digital assets, having openly criticized the former administration’s anti-crypto operations in Congress. Moreover, he has already set creating a regulatory framework for the industry as a top priority upon resumption.
His appointment has attracted cheers from key industry players, including Republican Senator Cynthia Lummis. In a tweet, she confirmed his appointment, noting that his leadership would usher in positive changes to the commission.
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