Paul Atkins, former member of the U.S. Securities and Exchange Commission (SEC), will testify before the Senate Banking Committee on March 27. This is part of the Trump administration's efforts to appoint individuals to senior management positions. Since Donald Trump took office on January 20, the SEC, under the leadership of acting chairman Mark Uyeda, has halted several investigations and enforcement actions against major cryptocurrency companies, including cases that have lasted for months or even years.

Many analysts believe that the recent actions of the SEC reflect the fulfillment of commitments made during the election campaign related to the cryptocurrency industry by the Trump administration. Some companies in the industry have directly donated to Trump's campaign or his inaugural fund after the November election. The committee's actions — including the statement that Memecoin is not a security — indicate a clear shift from the tenure of former chairman Gary Gensler, leading to much speculation that the SEC under Trump will promote a booming U.S. cryptocurrency industry without tight oversight.

Atkins, who was chosen by Trump in December 2024 and officially nominated after taking office, is supported by Coinbase and Ripple, both of which have ongoing enforcement lawsuits with the SEC but have been dismissed. With the apparent reduction in the SEC's enforcement of cryptocurrency-related laws and Trump's potential conflicts of interest with the industry, some lawmakers may question Atkins' stance on digital assets during the hearing.

If confirmed by the Senate, Atkins could return to a fully Republican-controlled SEC, with Democratic Commissioner Caroline Crenshaw expected to leave in 2026. It is unclear whether Atkins will garner enough votes to pass the confirmation hearing. The Republicans hold a majority with 53 seats in the Senate and only need 51 votes to confirm a nomination.

Senator Elizabeth Warren, the leading Democrat on the banking committee, has expressed concern about Atkins' close ties to the cryptocurrency industry, particularly with the now-bankrupt FTX exchange and the Digital Chamber of Commerce. Warren argues that Atkins' financial connections could raise concerns about his ability to avoid conflicts of interest.

Before the hearing, Atkins met with Republican lawmakers on the committee, including Senator Cynthia Lummis. If his nomination passes the Banking Committee and the Senate, Atkins could be confirmed for a term extending until June 2031, becoming chairman, taking over from Uyeda.

Source: https://tintucbitcoin.com/du-doan-tu-phien-dieu-tran-sec-cua-paul-atkins/

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