Newly-confirmed United States Securities and Exchange Commission (SEC) Chair Paul Atkins is poised to begin his tenure at his new role this week, a Monday report from Crypto in America claims.
SEC Chair Paul Atkins May Start This Week
According to the April 21 newsletter, two sources familiar with the matter told the novel media that U.S. President Donald Trump’s pick to lead the federal regulator will officially be “sworn in” to his position sometime this week.
Atkins, who was confirmed by the U.S. Senate on April 9, has yet to officially begin leading the regulatory agency, largely believed to be due to scheduling and procedural causes.
“We welcome Paul Atkins as the next Chairman of the SEC,” the commission said in a statement earlier this month following his confirmation.
“A veteran of our Commission, we look forward to him joining with us, along with our dedicated staff, to fulfill our mission on behalf of the investing public,” the organization added.
Trump’s Regulatory Overhaul Begins
Atkins is largely seen as a crypto-friendly choice to spearhead the SEC, with recents reports indicating that he owns between between $1 million and $6 million in digital assets.
The selection of Atkins, who previously served at the federal regulator under former U.S. President George W. Bush, coincides with Trump’s plan to overhaul prior regulations at several key government agencies.
The SEC has long garnered flack by members of the cryptocurrency community for its regulation-by-enforcement approach to the blockchain sector under the leadership of former SEC Chair Gary Gensler.
However, the agency has changed its tune in recent months, dropping several highly-publicized lawsuits against key players in the crypto industry including Coinbase, Kraken, and more. Atkins’ upcoming tenure may only serve to embolden the agency to lessen its grip on the crypto sector.
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