Members of the US Senate Banking Committee have given their approval for Paul Atkins’ nomination to serve as a commissioner on the Securities and Exchange Commission (SEC), setting the stage for a full Senate vote.
During an executive session on April 3, the committee voted 13-11 in favor of confirming Atkins for two consecutive terms, which includes taking over the remaining term of former Chair Gary Gensler as well as an additional term that will end in 2031.
Atkins’ nomination will soon move to the Republican-led Senate, where many analysts believe he is likely to receive confirmation as well.
Senator Tim Scott addressing lawmakers on April 3. Source: US Senate Banking Committee
Prior to the vote, committee chair Tim Scott remarked that Atkins would provide “essential clarity for digital assets.” In contrast, ranking member Elizabeth Warren reiterated her previous concerns regarding the nomination, suggesting that Trump’s choice could aid “billionaire scammers” such as former FTX CEO Sam Bankman-Fried and Tesla CEO Elon Musk in their efforts to undermine federal agencies.
This story is ongoing, and updates will be provided as they become available.