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Trump-backed candidate for SEC chair confirmed

The next step has been taken for Paul Atkins, the Trump candidate known for being crypto-friendly.

By Mike Hesp
• 2 min read
Trump-backed candidate for SEC chair confirmed

The next step has been taken for Paul Atkins, the Trump candidate known for being crypto-friendly. The Senate Banking Committee confirmed him with a narrow majority to serve as chair for two consecutive terms as head of the U.S. market watchdog SEC (Securities and Exchange Commission).

"Paul Atkins, a former SEC commissioner, will spur capital formation and provide the much-needed clarity for digital assets," said Republican Senator Tim Scott on the nomination.

Atkins would succeed the current crypto-skeptical SEC Chair Gary Gensler and would lead the regulator through 2031. Before that happens, the full Senate must approve his appointment, and with the Republican majority, expectations are that approval will also come.

For many crypto enthusiasts, Atkins is the ideal candidate. They hope he’ll push the U.S. toward friendlier crypto policy further. “Atkins himself said, “One of my top priorities will be building a solid regulatory framework for digital assets.”

Not everyone is happy about his potential appointment. Democratic Senator Elizabeth Warren recently voiced strong criticism and even accused him of "bribery".

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