- The US Senate voted 52-44 to approve Trump's pick Paul Atkins as the new SEC Chair.
- Atkins had promised to make creating crypto regulations a "top priority."
- Atkins's confirmation could improve market sentiment due to his potential pro-crypto moves.
The Senate voted 52-44 on Wednesday to approve Paul Atkins as the new Chair of the Securities and Exchange Commission (SEC).
Confirmed, 52-44: Confirmation of Executive Calendar #61 Paul Atkins to be a Member of the Securities and Exchange Commission for the remainder of the term expiring June 5, 2026.
— Senate Cloakroom (@SenateCloakroom) April 9, 2025
The news could improve sentiment in the crypto market, considering Atkins has previously advocated for better crypto regulations and reportedly owned $6 million worth of cryptocurrencies.
Atkins served as an SEC Commissioner under President George W. Bush between 2002 and 2008 before founding the consulting firm Patomak Global Partners, which serves clients in the banking and crypto industries.
During a March Senate Banking Committee hearing, Atkins promised to make providing a "firm regulatory regulatory foundation for digital assets" a "top priority" in his administration. He also mentioned that he would reverse some of the regulatory approaches the SEC undertook under former Chair Gary Gensler.
Since Gensler's resignation in January, the SEC has dropped several legal cases against crypto companies, including Coinbase, Ripple, Uniswap and OpenSea. The agency also rolled back a controversial rule—SAB-121 — that prevented banks from custodying crypto on behalf of clients.
With the Senate confirmation, President Donald Trump will have to sign off on Atkins's approval before he is sworn in as the new SEC Chair. Atkins will also have to step down from his role as the CEO of Patomak Global Partners to remove a conflict of interest with his upcoming position.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Chainlink looks at $14 resistance as outflows from exchanges signal continued demand
Chainlink exchange outflows exceed $120 million in the last 30 days, hinting at increasing accumulation. The breakout from a falling wedge technical pattern and an uptrending RSI indicator signal stronger bullish momentum.
Bitcoin extends gains toward $90,000 as ETFs inflows exceed $381 million
Bitcoin is extending its gains, trading above $88,000 at the time of writing on Tuesday after rising nearly 3% the previous day. Institutional demand seems to be supporting BTC’s recent price rally, with US spot ETFs recording an inflow of $381.40 million on Monday.
Top 3 gainers Fartcoin, POL, DeepBook: Altcoins surge as Bitcoin nears $90,000
Investors in select altcoins like Fartcoin, POL and DeepBook welcome double-digit gains. Bitcoin inches closer to $90,000, potentially waking up as digital Gold amid uncertainty in the macro environment.
Hyperliquid updates validator to 21 permissionless nodes, HYPE price breaks out
Hyperliquid’s validator update allows anyone to register, with the 21 largest stakes forming the active set. Validators must lock up 10,000 HYPE for one year, whether in the active set or not.
Bitcoin Weekly Forecast: BTC holds steady, Fed warns of tariffs’ impact, as Gold hits new highs
Bitcoin price consolidates above $84,000 on Friday, a short-term support that has gained significance this week. The world's largest cryptocurrency by market capitalization continued to weather storms caused by US President Donald Trump's incessant trade war with China after pausing reciprocal tariffs for 90 days on April 9 for other countries.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.