Source: Cointelegraph Original: "{title}"

Former U.S. Securities and Exchange Commission (SEC) member Paul Atkins is scheduled to meet with lawmakers on March 27 in the Senate Banking Committee, as part of the Trump administration's efforts to arrange presidential nominees for senior government positions.

Since President Trump took office on January 20, the SEC, under acting chair Mark Uyeda, has withdrawn several investigations and enforcement actions against major crypto companies, many of which had been ongoing in court for months or years. Many analysts believe the SEC's recent actions are the government fulfilling its campaign promises to the crypto industry, with some figures from the industry having directly donated to the then-presidential candidate or his inauguration fund after the November 5 election.

These actions by the SEC—including the announcement that meme coins are not securities—stand in stark contrast to the stance under former chair Gary Gensler, leading many to speculate that the SEC under Trump will foster the growth of the U.S. crypto industry, essentially free from regulatory scrutiny.

Atkins, who was officially nominated by Trump in December 2024, has the support of industry participants like Coinbase and Ripple, both of which faced enforcement actions initiated by the SEC. These cases have now been withdrawn.

Given the SEC's apparent shift in enforcement regarding crypto, and the potential conflicts of interest Trump may have with the industry—having ties to crypto company World Liberty Financial and launching his own meme coin—some lawmakers may question Atkins about his views on digital assets during the confirmation hearing.

If confirmed by the Senate, Atkins may return to an SEC that will soon be entirely controlled by Republicans, with Democratic commissioner Caroline Crenshaw expected to leave before 2026.

It remains unclear whether Atkins will secure enough votes to pass the Banking Committee's confirmation hearing or the full Senate vote. The Republicans hold a majority with 53 seats in the Senate, and only 51 votes are needed for confirmation. Moreover, aside from former Congressman Matt Gaetz serving as U.S. Attorney General, they do not intend to oppose any key government nominees put forth by Trump.

Massachusetts Senator and Democratic chief member of the Banking Committee Elizabeth Warren often equates cryptocurrencies with drug trafficking and other illegal activities. In a letter to Atkins on March 23, she expressed concern about his potential role at the SEC, as his consulting firm, Patomak Global Partners, was an advisor to the now-defunct crypto exchange FTX. He is also an advisor to the Chamber of Digital Commerce advocacy organization.

"Your deep involvement with FTX and other high-paying crypto clients raises questions about your approach to crypto regulation—and concerns about your understanding of FTX's illegal activities," Warren said, adding:

"Your financial ties to the industry you are about to regulate raise serious concerns about your ability to avoid conflicts of interest as a regulator."

Warren hinted that some members of the Senate may question Trump's nominee about the SEC's recent withdrawal of enforcement cases against crypto companies, reports regarding negotiations between the Trump family and Binance over acquiring shares in the company, and the potential pardon of former Binance CEO Changpeng Zhao, as well as how Atkins intends to apply securities laws to digital assets if confirmed, and the committee's recent view that meme coins do not fall under securities.

She suggested that Atkins may have communicated with Republican SEC commissioners Uyeda and Hester Peirce after his nomination.

Ahead of the hearing, Atkins has already met with Republican members of the committee, including Wyoming Senator Cynthia Lummis. Cointelegraph reached out to Lummis's office for comments on Atkins's nomination but had not received a response by the time of publication.

If his nomination is approved by the Banking Committee and the Senate, Atkins could be confirmed for a term until June 2031, succeeding Uyeda as chair. In addition to the committee's withdrawal of investigations and enforcement actions, the SEC's acting chair has also proposed abandoning the requirement for crypto companies to register with the agency.

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