President Donald Trump’s nominee for SEC Chair, Paul Atkins, signaled a sharp shift in the agency’s approach to cryptocurrency regulation. In his confirmation hearing before the Senate Banking Committee, Atkins criticized the prior leadership of Gary Gensler, calling his tenure “disturbing.” He cited:

• Aggressive enforcement actions against firms like Coinbase.

• High levels of staff attrition at the SEC.

• Court challenges overturning Gensler’s crypto-related regulations.

  
  

Atkins pledged to make digital assets a “top priority” and emphasized support for self-regulation and clearer frameworks that would allow crypto firms to operate without fear of unpredictable litigation. He also advocated for getting banks more involved in providing financial services to crypto businesses, an area historically hampered by regulatory uncertainty.

Why it matters: This marks a significant turning point in U.S. crypto policy. If confirmed, Atkins could dismantle several restrictive measures from previous administrations and pave the way for greater institutional adoption, market clarity, and potentially a bullish environment for digital assets in the U.S.