The U.S. Senate has officially confirmed Paul Atkins as Chairman of the Securities and Exchange Commission (SEC), a move expected to usher in looser regulations and a more crypto-friendly approach. Atkins has pledged to divest all crypto-related roles and holdings within 90 days to avoid any potential conflicts of interest.
Paul Atkins Confirmed as SEC Chairman Amid Expectations of Lighter Regulation
According to Bloomberg, Atkins was approved in a 52–44 Senate vote. Observers expect him to reduce regulatory burdens, ease corporate disclosure requirements, and make SEC rules more favorable to crypto companies—many of which have previously clashed with former chairman Gary Gensler in court. In addition, the new chairman will also need to monitor volatility triggered by trade tariffs.
Financial Background and Ties to the Trump Era
Paul Atkins is a seasoned U.S. financial expert who served as an SEC commissioner from 2002 to 2008. Prior to his tenure at the SEC, he worked on Wall Street as an attorney focusing on corporate transactions, including public and private securities offerings and mergers and acquisitions.
He also participated in President Trump’s 2016 business advisory forum, providing strategic and policy advice on economic matters.
Later, Atkins founded Patomak Global Partners, a financial services consultancy firm offering expertise in regulatory compliance, risk management, and crisis response. He also served as co-chair of the Token Alliance, an industry-led initiative overseen by the Chamber of Digital Commerce, which aims to support the development of tokenized networks and applications.
Ethics Commitment and Plans for a Leaner SEC
Atkins’ lucrative private-sector career brought him considerable wealth. According to disclosures from the Office of Government Ethics, Atkins and his wife Sara (heiress to a roofing products company) have a net worth of at least $327 million.
He had previously declared up to $6 million in crypto-related investments, which drew attention from both the market and Congress. In response, he committed to fully divesting from all crypto-related assets and roles within 90 days of assuming office to ensure ethical compliance.
Atkins is also expected to lead a leaner SEC. As reported in March, around 500 SEC employees (about 10% of the agency's 5,000 staff) have agreed to voluntary buyouts of $50,000 each, signaling a major structural shift under his leadership.
