New SEC chair Paul Atkins offers a preview of what the crypto industry could expect

US Securities and Exchange Commission member Hester Peirce, currently leading the agency’s crypto task force, offered a preview of what the industry could expect now that Paul Atkins has been sworn in as the regulatory body's chairman.

US Securities and Exchange Commission (SEC) member Hester Peirce, currently leading the agency’s crypto task force, offered a preview of what the industry could expect now that Paul Atkins has been sworn in as the regulatory body’s chairman.

Speaking to Cointelegraph before the US Senate confirmed Atkins’ nomination and he took his position as SEC chair, Peirce said she welcomed the opportunity to work again with the incoming agency leader. Peirce worked as Atkins’ counsel from 2004 to 2008 during the then-commissioner’s first term at the SEC.

“He cares about economic growth and how the markets that we regulate can support economic growth,” Peirce said of Atkins.

"I would love the chance to work with him on trying to reorient the agency so that it does take into consideration all aspects of our mission."

Atkins, appointed by US President Donald Trump in what many saw as a nod to the crypto industry to replace former chair Gary Gensler, was sworn in on April 21. During his confirmation hearing in the Senate Banking Committee, lawmakers questioned Atkins on his ties to the crypto industry, potentially presenting conflicts of interest in his role helping regulate digital assets.

“I expect that he will continue to follow the ethics rules,” said Peirce on Atkins. “I worked for him and I have very high regard for his integrity.”

SEC’s priorities under new leadership

Atkins, now chair, comes to the SEC as the fourth commissioner, with five members typically filling the agency’s leadership positions. Gensler and former Commissioner Jaime Lizárraga stepped down in January. Commissioner Caroline Crenshaw is expected to be the next to depart before 2026, leaving a panel of only three Republican commissioners unless Trump nominates a Democrat.

Commissioner Mark Uyeda, whom Trump named as acting chair on Jan. 20, was still scheduled to oversee some of the SEC’s proceedings, including an April 25 roundtable event discussing crypto custody. Uyeda said on April 21 that he was planning to return to his “regular role” as a commissioner, suggesting that Atkins may soon assume all his responsibilities as chair.

The shakeup in leadership comes amid many in the industry looking for clarity from the SEC, the courts, and lawmakers after Gensler’s departure.

Many accused the agency of enacting a “regulation by enforcement” approach to crypto, resulting in several high-profile lawsuits against firms including Coinbase, Ripple Labs, and Binance. Since January, the commission has dropped many of the cases.

“I think we’re all trying to get to a good place, which is putting some clarity around crypto, some regulatory clarity,” said Peirce.