UPDATE: Paul Atkins nominated as Chairman of the SEC

President Trump has nominated businessman and former SEC commissioner Paul Atkins to replace Gary Gensler as Chairman of the SEC. Atkins is precisely the type of experienced, forward-thinking leader the SEC needs as the United States resets its regulatory environment for crypto and digital assets after the disaster of the last four years. As other nations continue to enact crypto-specific rules, the United States Senate must act swiftly to confirm Paul Atkins as chairman of the SEC.

‍

Atkins has a deep understanding of how the SEC works. Atkins served on the SEC from 2002 to 2008. In 2002, he was confirmed in the Senate through a voice vote without any objections.
‍

Atkins is an advocate for crypto. Atkins, a member of the Chamber of Digital Commerce’s Advisory Board and co-chair of the Token Alliance, “helped create best practices for crypto issuances and trading.
‍

Atkins has a demonstrated understanding of how overregulation at the SEC hurts American builders. In endorsing him, The Wall Street Journal Editorial Board stated that Atkins “understands how the SEC’s layers of regulation discourage companies from going public.”
‍

Atkins is a vocal critic of the SEC’s “regulation by enforcement” regime. Atkins is a vocal critic of the previous SEC regime’s regulation by enforcement philosophy. Further, he is likely to work closely with his former clerk, current Commissioner Mark Uyeda, who is a noted critic of the agency’s regulation by enforcement regime.
‍

Atkins understands the regulatory problems holding crypto back, including labeling crypto a “fundamental underlying issue.” During a panel at the Federalist Society, Atkins criticized relying on the Howey Test for crypto, calling it part of a “fundamental underlying issue.”
‍
- ATKINS: “So in all those instances, the SEC reacted to developments in the industry and to try to help the technological development there. And I think that’s the real problem right now is relying on the Howey Test, which is 80 years old. Judge-made law, I think once in the Coinbases and others of the world, is now under litigation. And so sooner or later, I think Howey is going to go to the Supreme Court, and I bet the justices are going to look at this and think, ‘Oh, my goodness. This judge-made law has created even more of a mess as to how does one identify what a security is?’ I hope that they will address it and kind of clear it up. But in the meantime, I think the SEC needs to address this really fundamental, underlying issue.”

Atkins is ready to push the SEC to work with rather than against crypto companies to ensure American leadership. Speaking on Free The People, Atkins called on the SEC to be more accommodating to crypto firms.

‍
- ATKINS: “If the government, if the SEC, were more accommodating and would deal straightforwardly with these various firms, I think it would be a lot better to have things happen here in the United States rather than outside.”
- MATT KIBBE: “Waiting for the European Commission to do it for us?”
- ATKINS: “Or the Russians or North Koreans or whatever.”
- KIBBE: “The Chinese.”
- ATKINS: “Exactly.”

Atkins is a recognized expert on capital markets. Tyler Gellasch, former SEC Counsel, has referred to Atkins as ‘the intellectual godfather’ of capital markets policy for the Republican Party.”

UPDATE: Paul Atkins nominated as Chairman of the SEC

Atkins has a deep understanding of how the SEC works. Atkins served on the SEC from 2002 to 2008. In 2002, he was confirmed in the Senate through a voice vote without any objections

Atkins is an advocate for crypto. Atkins, a member of the Chamber of Digital Commerce’s Advisory Board and co-chair of the Token Alliance, “helped create best practices for crypto issuances and trading.

Atkins has a demonstrated understanding of how overregulation at the SEC hurts American builders. In endorsing him, The Wall Street Journal Editorial Board stated that Atkins “understands how the SEC’s layers of regulation discourage companies from going public.”

Atkins is a vocal critic of the SEC’s “regulation by enforcement” regime. Atkins is a vocal critic of the previous SEC regime’s regulation by enforcement philosophy. Further, he is likely to work closely with his former clerk, current Commissioner Mark Uyeda, who is a noted critic of the agency’s regulation by enforcement regime.

Atkins understands the regulatory problems holding crypto back, including labeling crypto a “fundamental underlying issue.”

During a panel at the Federalist Society, Atkins criticized relying on the Howey Test for crypto, calling it part of a “fundamental underlying issue.”

"
So in all those instances, the SEC reacted to developments in the industry and to try to help the technological development there. And I think that’s the real problem right now is relying on the Howey Test, which is 80 years old. Judge-made law, I think once in the Coinbases and others of the world, is now under litigation. And so sooner or later, I think Howey is going to go to the Supreme Court, and I bet the justices are going to look at this and think, ‘Oh, my goodness. This judge-made law has created even more of a mess as to how does one identify what a security is?’ I hope that they will address it and kind of clear it up. But in the meantime, I think the SEC needs to address this really fundamental, underlying issue
"

Atkins is ready to push the SEC to work with rather than against crypto companies to ensure American leadership. Speaking on Free The People, Atkins called on the SEC to be more accommodating to crypto firms.

ATKINS: “If the government, if the SEC, were more accommodating and would deal straightforwardly with these various firms, I think it would be a lot better to have things happen here in the United States rather than outside.”

MATT KIBBE: “Waiting for the European Commission to do it for us?”

ATKINS: “Or the Russians or North Koreans or whatever.”

KIBBE: “The Chinese.”

ATKINS: “Exactly.”

Atkins is a recognized expert on capital markets. Tyler Gellasch, former SEC Counsel, has referred to Atkins as ‘the intellectual godfather’ of capital markets policy for the Republican Party.”