Michael Saylor, the CEO of top corporate Bitcoin holder Strategy (formerly MicroStrategy), expressed support for newly appointed US Securities and Exchange Commission (SEC) Chair Paul Atkins.
In an April 23 X post, Saylor wrote that “SEC Chairman Paul Atkins will be good for Bitcoin.” The statement follows Atkins’ swearing-in as the 34th chairman of the SEC on April 21.
Blue Macellari, the head of digital assets at investment firm T. Rowe Price, also commented positively on Atkins’ swearing in during a recent Bloomberg interview. She seemed hopeful and recognized a change in how the SEC has acted under the new administration, particularly with crypto-related information, including “close to six or seven roundtables” with industry professionals. She said:
“I think that that’s gonna feed into the ability to make thoughtful and considerate policies.”
Vincent Liu , chief investment officer at crypto investment firm Kronos Research, told Cointelegraph that “under Chair Atkins, finalizing custody rules for digital assets is expected to provide the investor protections that institutions demand.” Other issues expected to be resolved are clarification on whether some digital assets are securities or commodities:
“Together, these two moves will help establish clear custody standards and bring much-needed clarity paving the way for the next wave of crypto product innovation.”
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Who is Atkins, and what does he mean for crypto?
Accolades from representatives of the crypto industry readily followed Atkins’ appointment by US President Trump in late 2024. Bitwise Asset Management general counsel Katherine Dowling said at the time that he is a “great choice,” and Ripple Labs CEO Brad Garlinghouse said that he “will bring common sense back to the agency.”
Not everyone was happy with the choice. Massachusetts Senator Elizabeth Warren said during Atkins’s nomination hearing that he had had “staggeringly bad judgment” in his role as a SEC commissioner leading up to the 2008 financial crisis. Atkins served at the agency from 2002 to 2008.
She also raised an issue with his consulting firm, Patomak Global Partners, which had advised the crypto exchange FTX before its 2022 collapse. Warren said:
“Your clients pay you north of $1,200 an hour for advice on how to influence regulators like the SEC, and if you’re confirmed, you will be in a prime spot to deliver for all those clients who’ve been paying you millions of dollars for years.”
Liu said that “to maintain public trust and avoid even the perception of regulatory conflict of interest, it’s essential to implement clear guardrails.” Such a guardrail would include mandatory disclosures of prior industry ties, ethics oversight, and transparent public comment periods for all crypto rules.
Related: SEC says it won’t re-file fraud case against Hex’s Richard Heart
Atkins accused of bias
Warren also sent a letter to Atkins in late March, stating that he should expect questions about his potential role at the agency due to his ties to the crypto industry through Patomak. Before being appointed, Atkins revealed a personal and family financial portfolio worth more than $327 million, according to a public ethics filing released ahead of his Senate confirmation hearing.
Similarly, Trump’s artificial intelligence and crypto czar, David Sacks, filed a notice in early March suggesting that his venture capital firm sold more than $200 million in crypto and related stocks ahead of assuming his role.
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