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Paul Atkins, the SEC chairman candidate nominated by US President Trump, disclosed before the Senate Banking Committee confirmation hearing that he holds up to $6 million in crypto-related assets, which has aroused strong doubts from Senator Elizabeth Warren and may lead to

On March 27, 2025, Paul Atkins, President Donald Trump’s nominee to lead the U.S. Securities and Exchange Commission (SEC), is making headlines as his Senate confirmation hearing unfolds today before the Banking, Housing, and Urban Affairs Committee. Known for his pro-crypto stance and substantial personal investments in the sector, Atkins is poised to reshape the SEC’s approach to digital assets. As of 10:27 PM WIB, the crypto community is closely watching how his wealth, ties, and regulatory philosophy might influence the future of cryptocurrency in the U.S. and beyond. Atkins’ Wealth and Crypto Holdings Recent financial disclosures reveal that Atkins and his wife possess a combined net worth of at least $327 million, potentially making him the richest SEC chair in recent history if confirmed. His fortune stems largely from his role as CEO of Patomak Global Partners, a consulting firm valued at a minimum of $25 million, and stakes in other ventures like Tamko Building Products. Atkins is also a significant crypto investor, with holdings estimated between $1 million and $6 million in crypto-related assets. These include investments in Anchorage Digital, a crypto custody firm, Securitize, a tokenization platform, and a fund managed by Off the Chain Capital, a blockchain investment group. Notably, his portfolio excludes direct Bitcoin ownership, focusing instead on infrastructure and tokenized asset plays. This substantial stake has drawn scrutiny, particularly from Senator Elizabeth Warren, who has questioned potential conflicts of interest given his past advisory role with the collapsed FTX exchange and ties to Trump’s crypto ventures. A “Rational and Coherent” Crypto Policy In his prepared testimony, Atkins pledged to deliver a “rational, coherent, and principled” approach to crypto regulation a stark contrast to the enforcement-heavy tactics of outgoing SEC Chair Gary Gensler. He emphasized working with Congress and fellow commissioners to establish a clear regulatory foundation for digital assets, aiming to foster innovation while protecting investors. “A top priority of my chairmanship will be to ensure politics doesn’t stifle capital formation,” Atkins stated, signaling a shift toward a more industry-friendly SEC. His past as an SEC commissioner from 2002 to 2008, combined with his libertarian leanings and criticism of post-2008 Dodd-Frank regulations, suggests a preference for lighter oversight. Atkins has also co-chaired the Token Alliance, a crypto advocacy group, until stepping down in December 2024, reinforcing his pro-crypto credentials. Four Key Implications for Crypto Analysts see Atkins’ nomination as a potential turning point for the industry: Regulatory Relief: His promise of clarity could end years of “regulation-by-enforcement,” benefiting tokens like XRP, which recently won its SEC battle. Institutional Boost: With BlackRock’s Bitcoin ETP launching in Europe and Atkins’ Wall Street ties, institutional adoption might accelerate. DeFi and Tokenization: His focus on innovation could greenlight decentralized finance and real-world asset tokenization, areas where his investments align. Market Sentiment: A crypto-friendly SEC chair could drive bullish momentum, with some predicting Bitcoin hitting $150,000 and altcoins soaring. Controversy and Challenges Not everyone is cheering. Senator Warren’s 34-page letter to Atkins, sent ahead of the hearing, presses him on his FTX involvement, his role in pre-2008 financial deregulation, and potential biases tied to Trump’s crypto interests. Critics, including Public Citizen, argue his corporate lobbying history and revolving-door career make him ill-suited to oversee a $3 trillion crypto market impartially. If confirmed, Atkins has vowed to resign from Patomak and divest conflicting interests, such as his Securitize stake. What’s Next? As the Senate hearing progresses today, Atkins’ responses to Warren and other senators will be pivotal. The crypto industry is betting on his confirmation to usher in a new era of regulatory harmony, while skeptics fear a return to lax oversight reminiscent of pre-crisis days. With Bitcoin above $87,000 and market optimism high, Atkins’ leadership could either propel the sector to new heights or reignite debates over Wall Street’s sway. Will Paul Atkins deliver the crypto revolution many hope for? The outcome of today’s hearing and his eventual tenure will shape the answer. #SEC

U.S. Representative Bryan Steil (R-WI) argues Congress should advance stablecoin regulation and crypto market structure legislation in tandem. Steil contends the two areas are interconnected and progress together benefits both the stablecoin and broader crypto sectors. Steil expressed his opinion during a recent podcast , highlighting the increased energy from the Senate toward the stablecoin bill after President Donald Trump urged the bill to be ready before the August recess. Trump’s request fueled speculation among crypto watchers about imminent bills potentially redefining the U.S. crypto landscape. Steil, who chairs the House Financial Services Subcommittee covering digital assets, fintech, and AI, views the Senate as a partner and plans to match their pace. Related: Senator Hagerty’s GENIUS Act Aims to Pass Stablecoin Bill in 100 Days He aims to advance both stablecoin and market structure bills concurrently, anticipating Senate support to meet Trump’s August target. Steil outlined the process for passing these key pieces of legislation. He noted significant support for the Genius Act, introduced in the Senate by Senator Bill Hagerty (R-TN). In the House, Steil partnered with Rep. French Hill (R-AR) to sponsor the Stable Act, and an updated version is planned that aims to align more closely with the Senate bill. Steil anticipates both the House and Senate passing their respective versions before reconciling differences to craft a single, final bill for passage in both chambers. This detailed legislative path, while potentially seeming lengthy to some industry observers, allows lawmakers to focus on “getting things right,” according to Steil. Related: U.S. Senate Committee OKs Stablecoin Bill, Balancing State & Federal Roles He clarified the objective isn’t just speed, but working accurately to deliver sound, effective legislation for the digital asset space. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.