SEC Commissioner Peirce “Atkins Regime, Cryptocurrency Regulation Clarification Expected”
Paul Atkins inaugurated as chairman of the US SEC (Source: AFP)
Commissioner Hester Peirce of the US Securities and Exchange Commission (SEC) said she expects the direction of cryptocurrency regulation to become clearer under the new leadership of Chairman Paul Atkins. Peirce mentioned her past experience working with Atkins and predicted that under the new leadership, the SEC would form a more constructive relationship with the cryptocurrency industry.
On the 22nd (local time), Commissioner Peirce said, "Atkins has a deep interest in market structures that support economic growth," and "I look forward to the opportunity to adjust the SEC's policy direction more balanced with him." She worked as a legal advisor with Atkins during his tenure as SEC commissioner from 2004 to 2008.
Paul Atkins officially became the SEC chairman on April 21, replacing former Chairman Gary Gensler, nominated by President Donald Trump. During the Senate confirmation process, concerns were raised about his connections with the cryptocurrency industry and potential conflicts of interest, but Peirce emphasized, "He is a person who will strictly adhere to ethical guidelines" and "I have high trust in his integrity."
Currently, only four out of five commissioners are serving on the SEC, with Peirce, Mark Uyeda, Caroline Crenshaw, and the new chairman Atkins actively involved. However, there is a possibility that the structure could shift towards a Republican-centered composition, as Commissioner Crenshaw is expected to resign before 2026.
Commissioner Uyeda initially served as the acting SEC chairman from January 20 this year, but stated that he "plans to return to his previous commissioner role" following Atkins' inauguration. The SEC plans to hold a public meeting related to cryptocurrency custody on April 25, signaling the first regulatory direction under the new chairmanship.
In the past, the SEC under Gensler's leadership faced criticism for "enforcement-focused regulation" as it filed lawsuits against numerous cryptocurrency companies. However, a change in atmosphere is being detected recently as some cases are being withdrawn. Peirce added, "Now we should move towards securing regulatory clarity on cryptocurrencies," and "I think we are heading in a good direction."