Main to remember
- The confirmation of the president of the SEC of Paul Atkins is delayed due to the pending financial disclosure documents despite an upcoming hearing of the senatorial committee.
- The dry under Mark Uyeda has abandoned several surveys and prosecution against cryptographic notable societies.
The confirmation of Paul Atkins, the choice of Trump to preside over the Securities and Exchange Commission of the United States, was delayed due to the submission in progress of the documents required by the White House, according to the journalist of the Semafor Congress, Eleanor Mueller.
The documents include the financial disclosure of Atkins, with a particular accent on his marriage in a billionaire family. His wife’s family is linked to Tamko Building Products LLC, a large manufacturer of residential roofing shingles. Forbes declared the company’s revenues to $ 1.2 billion in 2023.
These family ties are reflected in a complex network of financial participation that Atkins is required to disclose. The process of in -depth documentation and verification of these participations is long, hence the delays in its confirmation.
However, it seems that ATKINS is always on the right track for the role of president of the dry. The journalist noted that the president of the Senate bank, Tim Scott, aims on March 27 for the hearing of the Committee on the appointment of Atkins.
The senatoric banking committee also provides for a bipartite meeting on the appointment of Atkins this Friday. This meeting probably involves discussions and preparations linked to the next hearing.
“Not yet clarity on the question of whether the Committee has Atkins documents in hand, but anyway, it is the most momentum that we have seen so far,” wrote Mueller on X today.
Delayed confirmation is not abnormal. The previous dry chairs, such as Gary Gensler and Jay Clayton, also experienced confirmation audiences in March.
The first hearing of the banking committee of the Gary Gensler Senate took place on March 2, 2021, about a month after receiving his appointment. It was confirmed by the Senate on April 20, 2021.
Trump appointed Atkins to be president of the SEC on December 4, 2024. The appointment documents were officially delivered to the Senate on January 20.
Atkins is considered a pro-Crypto defender who promotes a less aggressive regulatory approach compared to his predecessor, Gensler. He believes that it makes the clarity and elimination of regulatory roadblocks to allow the cryptography industry to develop in the United States.
It is unlikely that the Crypto FNB will be approved before the confirmation of Atkins
In a statement earlier this month, Bloomberg ETF analyst James Seyffart said he would be surprised if one of the ETF Altcoin waiting fiber was approved before ATKINS was confirmed as the new dry president.
Seyffart suggested that everything that can be postponed will probably be delayed until Atkins takes office. Still according to him, the SEC has historically used procedural delays to extend decision times, often up to 240 days.
Expert ETF believes that the implementation of a new chair in May or June could facilitate approvals, but he noted that rapid approval is not guaranteed even after Atkins has taken office.
However, some important aspects are evolving positively while the dry awaits the confirmation of Atkins.
Mark Uyeda, who has been an acting president of the SEC since the departure of Gary Gensler, has created a crypto working group led by Commissioner Hester Peirce and canceled a rule forcing financial companies to record the titles of crypto as liabilities.
The agency has also abandoned several surveys and prosecutions filed during the mandate of peopleler against companies such as Coinbase, Consensys, Robinhood, Gemini, Uniswap and Opensea.
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