Senator Warren Condemns Nomination of Crypto Lawyer Paul Atkins as SEC Chair
Date: 2025-03-28 Author: Gabriel Deangelo Categories: IN WORLD
Massachusetts Senator Elizabeth Warren expressed concern over the nomination of Paul Atkins to chair the SEC. Atkins, known for his support of the cryptocurrency industry, was nominated by President Donald Trump. His income tax return showed digital assets worth up to $6 million, which drew sharp criticism from the senator, who opposes easing regulations on the crypto market.
A confirmation hearing for Atkins is scheduled for March 27. He is set to replace Gary Gensler, who left the post after Trump's inauguration. During Gensler's tenure, the SEC actively fought cryptocurrency projects, initiating investigations into market players such as Binance, Coinbase, and Ripple.
After his departure, Mark Uyeda was appointed acting chairman. The commission changed course, focusing on dialogue with the industry. A task force was created with the participation of Commissioner Hester Peirce, known as the crypto mom, whose task was to build new regulations in the form of open roundtables with representatives of the crypto industry. At the same time, many investigations began to be terminated or suspended, including cases against Kraken, Gemini, Uniswap, OpenSea and other companies previously accused of illegally offering cryptocurrencies as securities.
According to Reuters, Paul Atkins’ family has assets worth about $328 million. A significant part of their wealth is tied up in TAMKO Building Products, a company associated with his wife. His own consulting firm, Patomak Global Partners, which provides services to traditional finance and blockchain businesses, is valued at between $25 million and $50 million. Atkins has promised to completely step down from the company if appointed.
He is also reported to hold around $1 million in crypto assets in Anchorage Digital custody accounts and Securitize tokenization platform. He was previously on Securitize’s board of directors. He is also a limited partner in Off the Chain Capital, a crypto fund that holds up to $5 million. His portfolio includes stocks in companies such as Digital Currency Group and Kraken, as well as claims on the Mt. Gox exchange. Atkins said he would step down from the fund within 120 days of approval.
He has also stepped down from his position at the Digital Chamber of Commerce and has ended his participation in the Token Alliance initiative.
