After being appointed by Donald Trump and Gary Gensler acting on behalf of the chairman of the U.S. Securities Exchange and Securities Commission, Paul Atkins will appear before the Senate Banking Committee on Thursday to fulfill the first steps in the confirmation process.
In an audience, which will be held on March 27th this year, Atkins will answer questions from committee members before the vote is held to advance the nomination across the Senate.
Unlike other Trump administration nominations, Atkins served as a Republican committee member for six years under President Bush — shuns the controversy and has received support from both Republicans and Democrats.
However, it is expected to support cryptocurrency and to defend its less severe financial regulations. This is an important question for interrogationespecially by Elizabeth Warren (D-Massachusetts), the highest ranked member of the committee, and her fellow Democrats.
It is highly likely that some lawmakers will question their opinions on digital assets at hearings. In fact, this week the senator sent a long letter to Atkins. He has expressed his rejection of the nomination.
Warren is worried Your Possible Roles in the SEC After consulting, Patomak Global Partners advised the extinct FTX Cryptocurrency Exchange platform. He also mentions advice to the Digital Chamber of Commerce, a cryptocurrency rights defense group.
“The financial link to the industry that regulates immediately raises serious concerns about its ability to avoid conflicts of interest as a regulator and raise questions about focusing on cryptocurrency regulation,” he said.
The senators suggested that some senators would likely oppose Trump’s choice. SEC’s recent withdrawal In the case of compliance with cryptocurrency companies.
He mentioned the demand that it was rejected in recent weeks under the direction of interim president Mark Weda, a Republican commissioner also selected by Trump.
As reported by Cryptonoticia, after Gary Gensler’s resignation (a strong opposition to the Bitcoin ecosystem), the SEC We make important turns with that policy.
So far, the charges have been retracted against Ripple, Coinbase, Binance and Kraken. Last January, the agency created a working group to review cryptocurrency regulations. He has been like that ever since Open to listen to the proposals of sector members.
nevertheless The probability is high The confirmation of the nomination is yet clear whether Atkins has the necessary votes to approve the audience and votes in the Senate.
Republicans make up most of the 53 seats on camera. Only 51 votes are required to confirm candidates, except for former U.S. Attorney General’s Representative Matt Gaetz.
Thus, the nomination of Trump’s candidates is now in the hands of Congress. If the Senate confirms it, Atkins can go back to that second It will soon be completely controlled by the Republican Party. This is because Democrat Secretary Caroline Crenshaw will retire in 2026.
(TagStoTranslate) CryptoCurrencies (T)US (T)Related (T)Sec
