Paul Atkins vows to make crypto rules top SEC priority

Paul Atkins, Trump’s SEC pick, says crypto regulation will be his top focus, aiming for clear rules to reduce confusion and support market innovation.

Paul Atkins, nominated by former President Donald Trump to lead the U.S. Securities and Exchange Commission (SEC), told lawmakers that regulating crypto would be his top priority if confirmed. Speaking at his confirmation hearing before the Senate Committee on Banking, Housing, and Urban Affairs on March 27, 2025, Atkins pushed for clear rules to reduce confusion and support innovation in the financial sector.

Atkins, who previously served as an SEC commissioner from 2002 to 2008, said unclear regulations have created uncertainty in markets and slowed down innovation. He promised to work with other commissioners and Congress to build a “rational, coherent, and principled” framework for digital assets. According to Atkins, these rules must be smart, efficient, and within the SEC’s legal power, helping everyone in the market benefit from regulatory clarity.

He also said he wants the SEC to return to its core mission—protecting investors, supporting market efficiency, and helping raise capital. “It’s time to reset priorities and return common sense to the SEC,” Atkins told the committee.

Until the Senate votes on his confirmation, Mark Uyeda continues as acting SEC chair. Atkins was officially nominated by Trump in December 2024.

Senator Tim Scott, the committee chair, backed Atkins strongly. He called Atkins an experienced leader who could reverse what he described as damaging policies from the Biden administration. Scott added that Atkins would help U.S. innovation catch up globally by encouraging capital formation, helping everyday investors, and bringing long-needed clarity to the crypto sector.

Still, not all lawmakers are convinced. Senator Elizabeth Warren raised concerns over Atkins’ independence, pointing out that he owned as much as $6 million in crypto assets before the hearing. She questioned whether he could remain impartial when shaping rules that may impact his past investments.

Warren sent a letter requesting Atkins to remove himself from any decisions involving past clients. She also asked that he avoid advising or lobbying for the crypto industry during and for four years after his time at the SEC.

The Senate Banking Committee has yet to set a date for the vote on Atkins’ confirmation. If confirmed, he will replace former SEC chair Gary Gensler.                                                                                                                              

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