Paul Atkins Sworn in as 34th SEC Chair, Signals Crypto Market Reforms

• Former SEC Commissioner Paul S. Atkins has now returned to lead the commission.
• The new chairman previously developed digital asset best practices while working at the SEC.
• The SEC under Atkins faces decisions on over 70 crypto ETF applications.

In a significant regulatory development, Paul S. Atkins has been officially sworn in as the 34th Chairman of the U.S. Securities and Exchange Commission (SEC). A familiar face at the agency, Atkins returns at a pivotal moment, bringing his profound experience in financial markets and digital assets. His appointment under the President Donald Trump administration signals a possible shift in the SEC’s approach to innovation, capital formation, and cryptocurrency oversight. 

Atkins’ appointment is not an abrupt decision. After Donald Trump took over the office on January 20, 2025, he nominated the ex-Commissioner to lead the agency. However, the confirmation process was delayed as the Senate required time to assess the financial condition of Atkins and his wife. Later, it provided its approval in a 52-44 vote earlier this month. Notably, even Gary Gensler, the ex-Chair of the SEC, took over the office in April, when he was nominated in January 2021. 

Atkins Track Record

During 2002-2008, when Atkins served as an SEC Commissioner, under President George W. Bush administration, he helped to promote transparency and cost-benefit analysis in regulation-making. He also led the SEC delegation to the President’s Working Group on Financial Markets and the U.S.-EU Transatlantic Economic Council meetings.

Later, in 2009, after moving out of the SEC, Atkins set up a consulting firm, Patomak Global Partners, where he focused on regulatory strategy and the best practices for developing the digital asset sector. Apart from that, Atkins served as an independent director and non-executive chairman for BATS Global Markets during 2012-2015. According to the official U.S. SEC press release, after the ceremony, Atkins said,

I am honored by the trust and confidence President Trump and the Senate have placed in me to lead the SEC. As I return to the SEC, I am pleased to join with my fellow commissioners and the agency’s dedicated professionals to advance its mission to facilitate capital formation; maintain fair, orderly, and efficient markets; and protect investors. 

70 ETFs Approvals Pending

Following the appointment, Atkins will be succeeding the acting chair Mark Uyeda. Notably, under Uyeda’s administration, the Crypto Task Force was initiated in January 2025, aimed at improving industry engagement. Further, the SEC also dismissed several crypto-related enforcement actions, including Coinbase, Consensys, Gemini, and Uniswap.

Although the entry of Paul Atkins has garnered attention, the new SEC Chair now faces decisions on more than 70 crypto-related exchange-traded fund applications. Meanwhile, ETF analyst James Balchunas explained that the application ranges from “everything from XRP, Litecoin, and Solana to Penguins, Doge, and 2x Melania and everything in between.”

Related: Spotlight on XRP, Solana as 72 Crypto ETFs Seek SEC Approval This Year

With exposure in both traditional finance and the crypto space, Atkins is positioned to steer the SEC through a transformative period in market regulation, wherein the boundaries between conventional securities and digital innovation is weakening.