Paul Atkins, the appointee for the U.S. Securities and Exchange Commission, is scheduled for a confirmation hearing before the U.S. Senate next week, placing President Donald Trump’s choice for SEC chair on track to potentially assume duties as early as next month.
During the same hearing on March 27, the Senate committee will also consider Jonathan Gould’s nomination to lead the Office of the Comptroller of the Currency, which supervises national banks in the U.S. This position is crucial for cryptocurrency companies that have long sought access to banking services, as announced by the Senate Banking Committee in an email on Thursday.
Atkins, a former SEC commissioner and an advocate for digital assets, previously operated a consulting firm in Washington that guided clients on financial compliance matters. He is anticipated to continue the SEC’s supportive stance towards crypto, which has gained traction since Trump’s return to office and the appointment of Acting Chairman Mark Uyeda.
The OCC is poised to play a vital role not only in enhancing the digital asset sector’s access to U.S. banking but may also serve as a regulator for emerging stablecoin issuers under current legislative initiatives.
The committee will also evaluate Luke Pettit’s nomination for the role of assistant secretary for the Treasury during Thursday’s session.
Trump nominated Atkins to replace former SEC Chair Gary Gensler, whose leadership sparked criticisms of a “regulation by enforcement” methodology from the crypto sector. Since taking over the agency temporarily, Uyeda has shifted away from his predecessor’s tactics, retracting several lawsuits launched by the SEC against crypto entities in previous years and putting a hold on others. The SEC has also informed various crypto companies that it is concluding investigations involving them.