U.S. Securities and Exchange Commission (SEC) Announces Paul Atkins Sworn in as the 34th Commissioner
On Monday, the U.S. Securities and Exchange Commission (SEC) announced that Paul Atkins has been sworn in as the 34th Commissioner. He was nominated by U.S. President Donald Trump on January 20 and confirmed by the Senate earlier this month.
Atkins served as an SEC Commissioner from 2002 to 2008, having been appointed by former U.S. President George W. Bush. After leaving office, he founded a consulting firm, Patomak Global Partners, in 2009, with clients including banks, cryptocurrency exchanges, and decentralized finance (DeFi) platforms.
Atkins is a long-time supporter of cryptocurrencies and is expected to lead the commission in establishing clear and acceptable regulatory standards for the sector. During a Senate Banking Committee hearing last month, Atkins testified that developing a regulatory framework for digital assets would be his “top priority,” in stark contrast to the “enforcement-based regulation” adopted by former Commissioner Gary Gensler.
Prior to Atkins’ appointment, SEC Acting Commissioner Mark Uyeda established a cryptocurrency task force specifically tasked with “developing a comprehensive and clear regulatory framework for crypto assets,” led by Hester Peirce, known in the industry as “Crypto Mom.” The primary goal of this task force is to determine which cryptocurrencies should be considered “non-securities” to clarify the long-standing industry debate over whether cryptocurrencies constitute securities. Additionally, they are inviting industry experts to participate in public discussions regarding cryptocurrency regulation.
In recent months, the SEC has withdrawn several cryptocurrency investigations and enforcement actions initiated during Gensler’s tenure, including cases involving Coinbase, Consensys, Gemini, and Uniswap.
Over 70 Cryptocurrency-Related Fund Applications Pending Review
Following the approval of Bitcoin (BTC) and Ethereum (ETH) spot ETFs last year, asset management companies such as Fidelity, Franklin Templeton, and Grayscale have submitted various types of cryptocurrency ETF applications.
According to Bloomberg ETF analyst Eric Balchunas, there are 72 fund applications pending review by the SEC under Atkins’ leadership, including multiple ETFs tracking the prices of different cryptocurrencies. This involves a total of 17 tokens, including LTC, SOL, DOGE, XRP, ADA, HBAR, DOT, AVAX, AXL, APT, SUI, PENGU, TRUMP, MELANIA, BONK, BNB, LINK.
Source: Eric Balchunas