Paul Atkins, President Donald Trump’s nominee for the U.S. Securities and Exchange Commission (SEC) chair, is getting closer to securing the position. After months of delays, the Senate is now preparing for a key hearing on March 27, which could finally move his confirmation forward.
Delays and Challenges in Atkins’ Confirmation
Atkins was nominated on December 4, but his confirmation process has faced delays due to financial disclosure issues. The Senate needs details about his financial ties, especially his connection to his wife’s billionaire family.
His wife’s family is linked to TAMKO Building Products LLC, a large company in the roofing industry that made $1.2 billion in revenue in 2023. Because of these connections, Atkins’ financial holdings are complex and need to be carefully reviewed before he can be confirmed.
Despite these delays, Atkins is still expected to become SEC chair. Senate Banking Chair Tim Scott has set a target date of March 27 for a committee hearing on Atkins’ nomination.
To prepare for this, the Senate Banking Committee has scheduled a bipartisan meeting this Friday to discuss his potential role.
SEC Confirmations Often Take Time
If confirmed, Atkins is expected to bring a different approach to crypto regulation. Unlike former SEC Chair Gary Gensler, who took a strict stance against crypto, Atkins is seen as more open to working with the industry.
He previously served as an SEC commissioner from 2002 to 2008 and has years of experience as a corporate lawyer. Many in the crypto space believe his leadership could lead to clearer and fairer regulations.
What Happens Next?
Atkins has been waiting nearly four months since his nomination, but such delays are not uncommon. Both Gary Gensler and Jay Clayton also took months to officially start their roles. Now, with the Senate hearing set for March 27, the confirmation process is finally moving forward. If approved, Atkins could soon bring a new direction for the SEC and the crypto industry.
