Key dealers
- Paul Atkins has been approved by the Senate Bank Committee to lead Sec.
- Atkin’s confirmation encountered review because of his involvement in the 2008 financial crisis and FTX Crypto Exchange.
The Senate Bank Committee has advanced Paul Atkin’s nomination to lead US SEC in President Donald Trump’s second term. The next step is a complete vote of the Senate to complete its appointment.
The approval follows Atkins’ Senate Committee negotiation on March 27, which saw sharp departments about his previous term of office in sec and potential conflicts of interest. Senator Elizabeth Warren raised concerns about Atkin’s record, especially his role as SEC Commissioner before the 2008 financial crisis.
Warren pointed out its past positions on market risks and policies such as she said contributed to the financial degradation. She also questioned his advisory role at FTX, the collapsed crypto change under the leadership of Sam Bankeeper.
The Committee approved Atkin’s nomination with a vote on 13 to 11, in the midst of all Democrats.
Trump dropped Atkins As his SEC chairman nominated in December 2024, praise His experience in capital markets, commitment to “common sense” regulation and support for innovation, including digital assets.
The nomination process met initial delays due to waiting paperwork in the White House regarding financial revelations related to Atkin’s wife’s family’s wealth. Ethics applications show Atkins and his husband has a combined net value of at least $ 327 million, including up to $ 6 million in crypto -related assets.
What is next?
Atkin’s nomination now progress to the Senate floor for a final vote. Historically this step have taken About 1-3 weeks, depending on the Senate schedule and procedural considerations.
Former SEC chairman, including Gary Gensler and Jay Clayton, took between five and six weeks from a committee negotiation to the final Sena vote.
After the Senate’s confirmation, Atkins could be black in and adopt the Sec’s presidency almost immediately. By comparison, Gensler took over three days after confirmation, and Clayton began two days after his voice.
With Republicans holding a majority of the Senate 53-47, Atkin’s confirmation could move quickly. At a quick timeline, Atkins could take over this month.
