New SEC Chairman Paul Atkins Promises Streamlined, Consistent Approach to Digital Asset Regulation

The new SEC Chairman, Paul Atkins, replaced his predecessor, Gary
He promised a different regulatory approach to cryptocurrency than Chairman Gensler's.
According to The Block, Chairman Atkins said at the inauguration ceremony on the 22nd (local time) that "my number one priority as Chairman will be to establish a clear regulatory foundation for digital assets.
"I will do this through a rational, consistent, and principle-based approach," he said. Now that I'm leading the SEC, I can say with confidence that the SEC has stopped straying.
"It is time for the Fed to return to the mission it was given by Congress: protecting investors, promoting fair and orderly markets, and facilitating capital formation."
The comments are consistent with what he said at a Senate hearing last month. At the time, Atkins said he was working on digital assets.
Atkins made clear that building a regulatory framework for the industry is his top priority.
He served as an EC commissioner and later founded financial advisory firm Patomak Global Partners.
Partners and served as a member of President Donald Trump's economic advisory council during his first term in office.
On the other hand, it has also been said that former Chairman Gensler maintained a strict regulatory stance on the cryptocurrency industry during his term, which has led to uncertainty in the industry as a whole.
During his tenure, the SEC filed lawsuits against several cryptocurrency projects, including major exchanges such as Coinbase and Binance, and their associated tokens have come under legal scrutiny.
In addition, some have pointed out that the approval of a physical Bitcoin exchange-traded fund (ETF) has been withheld for a long time, and that there is a lack of clear criteria for whether a particular digital asset qualifies as a security.
This inevitably caused confusion among market participants about the direction of regulation. With the appointment of new Chairman Atkins as Official, the SEC has taken a clearer and more pro-cryptocurrency stance, unlike its predecessor.
It is expected that the direction of monetary regulation will become clear.