Paul Atkins Set to Become New SEC Chair, Market Buzzing with Excitement!

TradingKey - The Senate has approved Paul Atkins' nomination as SEC chair. The House is preparing for a final vote, which could happen as early as tonight.

On Wednesday, the U.S. Senate voted 51-45 to confirm Paul Atkins. He was nominated by President Trump. The House is now ready for its final vote, likely tonight.

Paul Atkins holds a law degree. He is a seasoned Wall Street advisor and an experienced regulator. He served as an SEC commissioner from 2002 to 2008. In 2017, he co-chaired the Token Alliance with former CFTC chair James Newsome.

Unlike former SEC chair Gary Gensler, Paul Atkins is friendly towards cryptocurrencies. He has created reports on the issuance and trading of digital assets. He also holds up to $6 million in crypto-related assets. 

Because of this, the market expects Atkins to ease regulations. His leadership could lead to a more favorable stance on digital assets and cryptocurrencies. The approval of spot ETFs for altcoins may happen this year.