Paul Atkins Sworn in as New SEC Chairman, Promises Crypto-Friendly Approach

WASHINGTON, April 21 (Reuters) – Paul Atkins was sworn in as the 34th Chairman of the U.S. Securities and Exchange Commission (SEC) on April 21, 2025. His appointment follows confirmation by the Senate on April 9, where he was approved in a 52-44 vote. President Donald Trump nominated Atkins, a former SEC commissioner, for the role.

Atkins expressed gratitude for the opportunity, stating, “I am honored by the trust and confidence President Trump and the Senate have placed in me to lead the SEC. Together we will work to ensure that the U.S. is the best and most secure place in the world to invest and do business.”

Having served as an SEC commissioner from 2002 to 2008, Atkins is anticipated to steer the SEC toward a more crypto-friendly environment compared to the previous administration under Gary Gensler. His comprehensive experience includes founding Patomak Global Partners in 2009, where he focused on establishing best practices within the digital asset sector.

Prior to his role at Patomak, Atkins was involved in various significant initiatives, including participation in the U.S.-EU Transatlantic Economic Council and the President’s Working Group on Financial Markets. As chief of staff and counselor to previous SEC chairmen Richard Breeden and Arthur Levitt, he molded policies that emphasized transparency and cost-benefit analysis.

Atkins’s confirmation saw delays attributed to required financial disclosures linked to his marriage into a billionaire family, which included approximately $6 million in crypto investments. This has raised eyebrows leading to speculation about his regulatory approach.

He succeeds Mark Uyeda, who served as acting chair and helped forge a new collaboration initiative between the SEC and industry stakeholders. Since Atkins’s confirmation, the SEC has begun to dismiss several probes into cryptocurrency firms that were underway during the Gensler era, highlighting a potential shift in regulatory focus.

Atkins steps into the role during a period where more than 500 applications for cryptocurrency-related exchange-traded funds (ETFs) are expected to be reviewed this year, illustrating the rapid evolution of the market. Bloomberg analyst James Balchunas noted, “Gonna be a wild year,” referring to the influx of application submissions.

The SEC remains a significant player in determining the regulatory landscape for digital assets, and Atkins’s leadership may redefine its approach amidst growing interest and investment in cryptocurrencies.