Key Takeaways
- Paul Atkins confirmed as SEC Chair in a 52-44 Senate vote.
- Atkins plans to replace enforcement-led oversight with innovation-focused Bitcoin policies.
- The SEC may revisit stalled ETF applications and redefine digital asset classifications.
On April 9, the U.S. Senate confirmed Paul Atkins as Chair of the Securities and Exchange Commission (SEC) in a 52-44 vote, marking a significant change in direction for the agency’s digital asset oversight.
Background on Paul Atkins
Atkins, a former SEC Commissioner and longtime Wall Street consultant, was confirmed along party lines, with full Republican support.
He succeeds Acting Chair Mark Uyeda and will serve through June 2026.
Policy shifts under Uyeda
Uyeda’s brief tenure already saw policy shifts, including the dismissal of enforcement cases and repeal of SEC Staff Accounting Bulletin No. 121, which had restricted public companies from custodying Bitcoin.
Atkins’ leadership is expected to deepen this deregulatory approach.
Atkins’ vision for digital assets
Atkins has previously led the Token Alliance and owns up to $6 million in Bitcoin-related assets, according to ethics filings.
He emphasized in his confirmation hearing the need for a “rational and coherent framework” for digital assets and signaled plans to work with the CFTC and Congress on regulatory gaps.
Contrast with Gary Gensler
Atkins’ approach contrasts sharply with that of former Chair Gary Gensler, who initiated over 100 digital asset enforcement actions.
Gensler’s view that most tokens were securities shaped the SEC’s aggressive stance during his tenure.
Future proposals
Proposals under Atkins may include safe harbor provisions for decentralized projects and faster approval for Bitcoin-related ETFs.
Meanwhile, critics like Senator Elizabeth Warren have raised concerns over his Wall Street ties and past consulting work related to FTX.
