Wall Street just got a new sheriff — and the crypto world optimistic. Paul Atkins has officially been confirmed as the next chair of the U.S. Securities and Exchange Commission (SEC), marking what Ripple’s policy chief calls the “dawn of a new era.”
Atkins Promises Guardrails over Crackdowns
Atkins brings decades of experience in finance and securities law. And he’s making it clear this isn’t just about tough love. It’s about building rules that make sense. “My top priority will be to provide a firm regulatory foundation for digital assets through a rational, coherent and principled approach,” Atkins told lawmakers during his confirmation.
He’s no stranger to the SEC either. After working under two former SEC chairs in the early ’90s, Atkins later served as a commissioner appointed by President George W. Bush. There, he focused on enforcement, especially high-profile fraud cases like the Bennett Funding scandal.
Industry Leaders Cheer Regulatory Clarity
Senator Cynthia Lummis and Congressman Tom Emmer were quick to back the nomination. Coinbase’s chief policy officer Faryar Shirzad even said Atkins’ confirmation is “the dawn of a new era.”
Furthermore, Atkins’ confirmation comes after months of anticipation — and right as President Trump’s administration begins unwinding prior SEC enforcement actions. But clarity is still elusive. The hope is that Atkins will be the one to finally provide it.
Dismissed Cases Signal Changing SEC Stance
Recent SEC dismissals may already be paving the way. Many cases tied to unregistered securities, brokers, and exchanges have quietly been dropped. The SEC’s own statements suggest proof-of-work mining and stablecoins are unlikely to fall under securities laws.
Cuts Could Slow the SEC’s Ambitions
Still, the agency may have a bumpy road ahead. Politico reports the SEC is set to lose up to 15% of its workforce thanks to budget cuts led by the Trump-backed Department of Government Efficiency (DOGE). Elon Musk, who heads the program, is reportedly pushing for even deeper slashes.
A group of legal academics — dubbed the “Shadow SEC” — has warned these cuts could paralyze the regulator. Their concern: building a new crypto rulebook might take far longer if the agency keeps losing experts.
A more crypto-friendly SEC could open the door to price momentum across digital assets. You can track real-time crypto prices and key technical trends using the TipRanks Cryptocurrency Center.
