Senate Confirms Paul Atkins to Replace Gensler as SEC Chair
The U.S. Senate has confirmed Paul Atkins as the new chair of the Securities and Exchange Commission (SEC), marking a pivotal shift in how the agency will approach cryptocurrency regulation. Confirmed on April 10 in a 51–45 party-line vote, Atkins succeeds Gary Gensler, whose aggressive enforcement tactics under the Biden administration had drawn heavy criticism from the crypto industry.
“Providing a firm regulatory foundation for digital assets through a rational, coherent, and principled approach” will be a top priority, Atkins told lawmakers during his confirmation hearings.
🚨NEW: The Senate has voted (51-45) to proceed with a vote on Paul Atkins' nomination to the @SECGov.
— Eleanor Terrett (@EleanorTerrett) April 9, 2025
The upper chamber is now set to move forward with a final vote on Atkins potentially as soon as this evening. https://t.co/nBy51u1t7N
🚨NEW: The Senate has voted (51-45) to proceed with a vote on Paul Atkins' nomination to the @SECGov.
— Eleanor Terrett (@EleanorTerrett) April 9, 2025
The upper chamber is now set to move forward with a final vote on Atkins potentially as soon as this evening. https://t.co/nBy51u1t7N
Atkins Brings Industry Ties and a Pro-Crypto Stance
A former SEC commissioner under George W. Bush, Atkins is widely viewed as pro-innovation and crypto-friendly. Ethics disclosures revealed:
- Holds up to $5M stake in a crypto investment firm.
- Previously held equity and options in Anchorage Digital and Securitize, a BlackRock-backed blockchain firm.
- Seeks to streamline SEC policy toward stablecoins, mining, and tokenized securities.
His arrival is expected to solidify a dramatic policy pivot already underway at the agency.
SEC Already Rolling Back Crypto Crackdowns
In Atkins’ absence, Acting Chair Mark Uyeda and Commissioner Hester Peirce have already:
- âś… Dismissed lawsuits against major crypto firms.
- 🧾 Issued guidance easing scrutiny on meme coins, miners, and stablecoins
- ❌ Opposed enforcement-first approaches taken under Gensler
Only one Democrat, Caroline Crenshaw, remains on the now three-member Commission. Her renomination was blocked in December after backlash from the crypto industry.
Trump Challenges Agency Norms—Again
Traditionally, the SEC’s five-member panel includes no more than three commissioners from one party to maintain balance. Trump, however, appears uninterested in those norms:
- Recently fired Democrats from the FTC and NLRB.
- Legal experts say he may seek to overturn a 1930s Supreme Court ruling that prevents presidents from removing commissioners without cause.
- Cases are already headed to the courts, with the conservative-leaning Supreme Court potentially weighing in.
This broader strategy could reshape not only the SEC but Washington’s regulatory structure as a whole.
