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Paul Atkins, the nominee to lead the U.S. Securities and Exchange Commission (SEC) as chairman, is likely to be confirmed and cleared for work before the end of the week. According to a scoop from independent journalist Eleanor Terrett, the U.S. Senate has scheduled an important vote that may pave the way for his confirmation.
Mark Uyeda counting days as SEC acting chairman
According to Terrett, the Senate has scheduled a cloture vote for chair nominee Paul Atkins at 11:30 a.m. ET on April 9. A cloture vote can quickly end a legislative process in progress.
Alex DovbnyaAs pointed out, this vote on cloture is the next step toward his confirmation. Should the vote succeed, Paul Atkins may have a full confirmation vote as early as 7:00 p.m. This brings the possible timeline for his ascension as permanent chairman to less than 48 hours.
Since the new U.S. administration came on board, Mark Uyeda has filled the gap as the acting chair of the commission. Under Uyeda, the Ripple lawsuit has been closed, and a number of pro-crypto moves have been made thus far.
However, a confirmation for Paul Atkins will mean an end to the reign of Mark Uyeda.
Is Paul Atkins good for crypto as SEC chair?
Many industry leaders have validated Paul Atkins’ nomination to lead the commission, drawing on his records. As a former commissioner, he has always advocated for pro-crypto policies and might maintain this push when he is confirmed for office.
The crypto ecosystem is shifting from Gary Gensler's aggressive positioning, which preferred regulation by enforcement. Constantly called out by crypto leaders, the expectation is that things will be different over the next four years.
With most of the aggressive enforcement policies now out the door, expectations for new products like a Dogecoin ETF and related offerings remain a strong possibility under Atkins.
Vladislav Sopov
Dan Burgin