Senate to Confirm Atkins as SEC Chairman, Boosting Crypto Access

Paul Atkins, the nominee to lead the U.S. Securities and Exchange Commission, is scheduled to appear before a Senate panel next week for a confirmation hearing. This hearing is a crucial step in the process that could see Atkins assume the role of SEC chairman as early as next month, following his nomination by President Donald Trump.

In addition to Atkins, the Senate panel will also review the nomination of Jonathan Gould to head the Office of the Comptroller of the Currency. This office is responsible for overseeing national banks in the U.S., a sector of particular interest to crypto firms that have long sought better access to banking services. The Senate Banking Committee made this announcement in an email on Thursday.

Atkins, a former SEC commissioner and advocate for digital assets, is expected to continue the SEC's pro-crypto stance that began after Trump's return to the White House and the appointment of Acting Chairman Mark Uyeda. Atkins' background includes running a Washington-based firm that advises clients on financial compliance issues, which positions him well to navigate the complexities of the crypto industry.

The Office of the Comptroller of the Currency is poised to play a pivotal role in granting the digital asset sector access to U.S. banking services. Furthermore, it may also serve as a regulator for future stablecoin issuers, according to current legislative efforts. This dual role underscores the growing importance of the OCC in the evolving landscape of digital finance.

During the same session, the panel will also consider the nomination of Luke Pettit to serve as the assistant secretary for the Treasury. This appointment is part of a broader effort to fill key positions within the financial regulatory framework.

Trump nominated Atkins to replace former SEC Chair Gary Gensler, whose tenure was marked by accusations of "regulation by enforcement" from the crypto industry. Since taking over the agency on a provisional basis, Uyeda has adopted a different approach, withdrawing from several lawsuits filed against crypto firms in previous years and pausing others. The SEC has also informed numerous crypto companies that investigations into their activities have been closed, signaling a shift in regulatory strategy.