- Senate delays Paul Atkins’ SEC chair vote, requiring nominees to submit written responses first.
- Atkins faces scrutiny over financial ties as lawmakers assess potential conflicts of interest.
- Bitcoin sees slight gains as SEC leadership uncertainty continues amid regulatory shifts.
The Senate Banking Committee has postponed its vote on the nomination of Paul Atkins as the next chair of the U.S. Securities and Exchange Commission (SEC). The decision was shared by Eleanor Terrett, host of Crypto in America, via X. According to a Senate aide, the committee will not be voting on Atkins or other nominees at this time.
Instead, nominees must submit written responses to committee questions before a markup vote is scheduled. A new date for the vote has not been announced.
Atkins Faces Scrutiny Ahead of Confirmation
Atkins, nominated by President Donald Trump to replace former SEC Chair Gary Gensler, attended a Senate hearing on March 27. Alongside him, Jonathan Gould, nominated to lead the Office of the Comptroller of the Currency, also faced questioning.
During the hearing, Atkins addressed concerns regarding digital asset regulations. “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,” he stated.
His nomination comes amid shifting regulatory policies, with recent withdrawals of lawsuits and investigations signaling a different approach from the previous administration. However, the committee’s decision to delay the vote indicates ongoing discussions about his suitability for the role.
Financial Disclosures Raise Questions
As previously reported, Atkins disclosed assets valued at a minimum of $327 million before his Senate hearing. His financial interests include holdings in Patomak Global Partners, a consulting firm, and ties to Tamko Building Products through his wife’s family.
These disclosures have led to questions regarding potential conflicts of interest. Some lawmakers are examining whether his financial ties could affect his decisions at the SEC. Despite these concerns, the general expectation within the crypto sector is that his confirmation remains likely.
Until the confirmation process is complete, interim SEC Chair Mark Uyeda continues to oversee the commission. Under Uyeda’s leadership, industry participants have noted a shift away from the regulatory enforcement strategies pursued under Gensler.
Meanwhile, the delay in Atkins’ confirmation has coincided with fluctuations in the cryptocurrency market. As of press time, Bitcoin (BTC) traded at $87,342.15, reflecting a market capitalization of $1.72 trillion. Over the past 30 days, BTC has seen a 0.92% increase, while daily trading volume has fallen by 6.69% to $26.74 billion, according to CoinMarketCap.
