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Senate Banking Committee Chair Tim Scott and Ranking Member Elizabeth Warren, lead questioning ... More during high stakes confirmation hearings of Atkins, Gould and Pettit for SEC, OCC, Treasury roles.
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In a high-stakes hearing on March 27, 2025, the U.S. Senate Banking Committee spotlighted a major shift in the direction of digital asset regulation, capital markets oversight, and banking policy—one that could reshape the future of finance. The committee heard testimony from three consequential nominees in President Trump’s second-term administration: Paul Atkins for Chairman of the Securities and Exchange Commission (SEC), Jonathan Gould for Comptroller of the Currency, and Luke Pettit for Assistant Secretary of the Treasury for Financial Institutions.
Together, their testimony signals a significant policy realignment in the executive branch of the United States government, one that could finally bring regulatory clarity and momentum in Congress to the long-awaited legislative framework for digital assets.
Atkins Pledges a “Rational, Coherent” Regulatory Framework
Paul Atkins, a former SEC Commissioner with deep institutional knowledge and industry experience, made it clear that crypto regulation would be front and center if he’s confirmed to lead the Commission. In his testimony, Atkins emphasized in his written testimony that “a top priority of my chairmanship will be to work with my fellow Commissioners and Congress to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach.”.
Atkins' statement aligns with criticisms from both sides of the aisle that the SEC under Gary Gensler relied too heavily on regulation by enforcement. That strategy, critics argue, stifled innovation, harmed investors, and discouraged responsible industry development in the United States, forcing innovation overseas.
Atkins’ approach, informed by his past tenure as a commissioner and his experience in the private sector, leans toward clear rules of the road. He highlighted the urgent need to “reset priorities and return common sense to the SEC,” distancing himself from Gensler’s term and making the case that over-politicized and ambiguous regulation harms capital formation and investor protection.
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