Atkins replaces Gary Gensler, who was infamous for his robust stance in opposition to cryptocurrencies. Throughout his tenure, Gensler often denounced altcoins and closed a number of crypto-related exchange-traded fund (ETF) proposals.
In his first assertion as chairman, Atkins thanked President Trump and the Senate for his or her belief. He promised to deal with making the US a protected and engaging place for investments and companies. Importantly, Atkins additionally identified that crypto oversight could be a prime precedence below his management.
Since Gensler’s departure, the SEC has obtained a wave of crypto ETF functions. Many specialists consider Atkins’ choices on these may reshape the SEC’s strategy to digital belongings.
The optimism round Atkins goes past ETFs. Beneath the Trump administration, investigations and lawsuits in opposition to main crypto companies like Coinbase, Ripple, and Uniswap had been closed. These corporations, together with others, reportedly donated over $85 million to the President’s inauguration.
With a $2.8 trillion crypto market at stake, buyers and policymakers will likely be paying shut consideration. Atkins’ market-friendly strategy may sign a brand new chapter for crypto regulation within the US.