The Senate Banking Committee has postponed the vote on Paul Atkins’ nomination to chair the U.S. Securities and Exchange Commission (SEC).
This update comes from a Senate aide, who confirmed that the committee will not vote on Atkins or other nominees as expected. Instead, nominees must provide written responses to committee inquiries before a markup vote, with no date set for that vote yet.
Atkins’ Nomination and SEC’s Evolving Stance
Atkins, nominated by former President Donald Trump to replace Gary Gensler as SEC chair, appeared before the Senate Banking Committee on March 27. Additionally, lawmakers conducted a confirmation hearing for Jonathan Gould, nominated to oversee the Office of the Comptroller of the Currency.
Gensler’s tenure at the SEC is often criticized for its adverse stance on cryptocurrency regulation, characterized by enforcement actions against numerous crypto firms. Following his resignation, there has been a notable response in the crypto market, with several cryptocurrencies experiencing gains.
Regulatory clarity continues to be a pressing topic in the crypto space, highlighted by recent efforts to withdraw lawsuits and cease investigations. During his hearing, Atkins expressed a commitment to fostering regulatory clarity for digital assets.
“A top priority of my chairmanship will be to work with my fellow commissioners and Congress to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach,” he stated in his prepared testimony.
Despite the vote’s delay, there is a growing consensus in the crypto sector that his confirmation is inevitable. In the interim, Mark Uyeda continues to guide the SEC in what industry experts view as a favorable direction.
