SEC nominee’s crypto focus sparks industry optimism

Coinbase’s Chief Legal Officer Paul Grewal expressed cautious optimism following last week’s Senate Banking Committee hearing, where SEC Chair nominee Paul Atkins pledged to prioritise digital asset regulation.

Grewal, who attended the proceedings, highlighted Atkins’ emphasis on transparency and collaboration, calling it “a refreshing change from the past.”

“A top priority of my chairmanship will be to work with my fellow commissioners and Congress to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach,” stated Atkins during the hearing.

He framed this as essential to maintaining U.S. leadership in global markets and fostering innovation.

Grewal noted Atkins’ alignment with Coinbase’s goals, particularly regarding regulatory clarity.

The nominee’s remarks on ending “debanking”—a practice that has hindered crypto firms and underserved communities—were also welcomed.

Atkins stressed a return to the SEC’s core mission, urging the agency to “get back to basics” and focus on investor protection and market integrity.

The hearing also featured Jonathan Gould, nominee for Comptroller of the Currency, who echoed support for addressing debanking.

“He’ll be a breath of fresh air atop a crucial oversight and rulemaking agency,” concluded Grewal, endorsing Atkins’ potential leadership.

Atkins tied his regulatory vision to broader economic objectives under the Trump administration, emphasising the need for a “secure place” for Americans to invest.

While specifics remain unclear, the nominee’s tone contrasts with recent SEC enforcement actions against crypto firms.

Industry observers await confirmation of Atkins’ nomination, which could signal a shift toward more collaborative oversight.

Coinbase’s reaction underscores the sector’s desire for predictable rules, though challenges persist in balancing innovation with investor safeguards.

The hearing highlighted bipartisan interest in digital assets, with lawmakers questioning nominees on both regulatory frameworks and market risks.