The post Senate Banking Committee grills Paul Atkins over crypto ties as he vows SEC reforms appeared on BitcoinEthereumNews.com.

Paul Atkins, former SEC Commissioner and President Donald Trump’s nominee to chair the US Securities and Exchange Commission (SEC), appeared before the Senate Banking Committee on March 27, vowing to restore clarity and restraint to the agency’s regulatory agenda. A key focus of his testimony was the need for coherent rules governing digital assets, which he described as a pressing challenge for both innovation and investor protection. Atkins criticized aspects of former SEC Chair Gary Gensler’s tenure, highlighting concerns over federal courts overturning rulemaking initiatives, increased staff attrition, and controversial enforcement actions against cryptocurrency firms. He advocated for a shift towards deregulation, emphasizing the need for clear and effective rules that promote innovation while safeguarding market integrity. He pledged to return the agency to its core mission of protecting investors, promoting efficient markets, and facilitating capital formation. Concerns over conflicts, crypto past During the confirmation hearing, Senator Elizabeth Warren sharply questioned Paul Atkins over his connections to the cryptocurrency industry and financial firms. In a letter submitted ahead of the hearing, Warren questioned whether Atkins could remain impartial given his consulting ties to the industry, particularly his role advising FTX before its collapse. She also raised concerns about his personal financial disclosures, which show substantial holdings linked to the crypto sector totaling roughly $6 million. Warren urged Atkins to commit to recusing himself from any future matters involving his former clients and to avoid returning to the financial industry for at least four years after serving. She emphasized that such steps were necessary to restore public trust in the SEC’s independence. Paul Atkins responded to Senator Warren’s questioning by emphasizing his commitment to ethical standards and full transparency. He assured the committee that, if confirmed, he would divest from all financial holdings that could present a conflict of interest, including…

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Filed under: News - @ March 27, 2025 8:22 pm