US Senate Banking Committee Approves Atkins SEC Chair Nomination

On Thursday (April 3), the Senate Banking Committee of the United States voted to approve President Trump’s nominee for the top regulatory position on Wall Street. The nomination will now be sent to the full Senate for a vote.

The committee confirmed Paul Atkins as the chairman of the Securities and Exchange Commission (SEC) and approved Jonathan Gould to serve as the U.S. Comptroller of the Currency with a vote of 13-11.

Senator Tim Scott, the chairman of the subcommittee and Republican Senator from South Carolina, praised the nominees for their extensive experience and stated that they will help depoliticize financial regulation.

In a post on Truth Social last December 4th, then President-elect Trump announced, “I am pleased to nominate Paul Atkins as the next chairman of the Securities and Exchange Commission.”

Atkins previously served as a commissioner at the SEC during the administration of President George W. Bush and is highly respected among Republicans. He has been a vocal supporter of the cryptocurrency industry and has served as co-chair of the Digital Chamber of Commerce Token Alliance since 2017. As the founder and CEO of consulting firm Potomac Global Partners, Atkins has been providing regulatory compliance advice to digital finance companies since 2009.

Senator Elizabeth Warren, the top Democratic member of the Senate committee, expressed opposition to these nominations, believing that the nominees lean towards loosening regulations that primarily benefit Wall Street bank executives.

Seizing the opportunity, she criticized billionaire Elon Musk’s leadership of the Department of Government Efficiency (DOGE), accusing the agency of carrying out widespread layoffs and closing various institutions. She sarcastically remarked, “While both Trump and Musk are actively dismantling these institutions, I will not vote to confirm these government officials as we sit here helplessly.”

(This article is based on reporting from Reuters)