Will the New SEC Chairman Be Announced Today? Here Are the Latest Updates, Most Likely Candidate and Cryptocurrency Background
The U.S. Senate Banking Committee has postponed the vote on Paul Atkins and other candidates for the SEC Chairmanship, and no specific date has been set for a decision. The delay follows the traditional process of allowing candidates to respond to questions submitted for registration before moving to the vote.
Cryptocurrency journalist Eleanor Terrett stated in a post on X, formerly known as Twitter, “Senate aides announced that the Senate Banking Committee will not be voting today on Paul Atkins or other candidates. The candidates will be asked to respond to questions submitted for the record before the vote. The vote will take place later, and a definitive date will be determined.”
Atkins, a former SEC commissioner and advocate for digital assets, was initially scheduled to participate in the approval hearing on March 21. If approved by the committee, the nomination of the (SEC) chairmanship by the U.S. Securities and Exchange Commission would be submitted to a vote in the Senate.
Atkins, which has a history of supporting financial innovation, previously founded a compliance consulting firm in Washington. It is expected that Atkins will advocate for a more crypto-friendly regulatory approach and signal a change from the enforcement-focused policies of former SEC Chairman Gary Gensler, which have been criticized by industry leaders.
Atkins is reported to have cryptocurrency assets worth around 6 million dollars and a total fortune of 320 million dollars.
Eleanor Terrett tweeted that Paul Atkins said he would abandon the previous administration’s harsh law enforcement approach:
“It is essential to have industry experience and focused implementation to ensure that customers and investors benefit from efficient, effective, and well-designed regulations. Our mission at the SEC should be to promote these efforts and use law enforcement to correct and remedy intentional misconduct when necessary.”