SEC Chair Nominee's Senate Banking Committee Vote Postponed

Reportedly, the Senate Banking Committee has postponed its vote concerning the nomination of Paul Atkins as the upcoming chair of the U.S. Securities and Exchange Commission.

Eleanor Terrett, a journalist and host of the Crypto in America podcast, disclosed this information via X. Terrett, a former FOX Business reporter, attributed the news to a Senate aide.

As per the aide, the committee will not hold a vote today on Atkins or any other nominees, following typical practice. Instead, nominees will have to submit written responses to committee inquiries prior to a markup vote. The date for this vote has not yet been determined.

🚨NEW: A Senate aide informs me that there will be no committee vote today on Atkins or other nominees, as is customary. Nominees will have to respond to questions submitted for the record before a markup vote. The vote will occur at a later date, to be determined.

Atkins’ nomination and the SEC’s changing position

Atkins, President Donald Trump's selection to succeed former SEC chair Gary Gensler, appeared before the Senate's banking committee on March 27.

A confirmation hearing was also held for Jonathan Gould, nominated to head the Office of the Comptroller of the Currency.

Gensler's tenure at the helm of the leading securities watchdog in the US is generally viewed as negative and anti-crypto.

His enforcement action approach to regulation, which resulted in the SEC suing multiple crypto companies and initiating investigations against several, is something the commission aims to abandon entirely. In fact, several cryptocurrencies surged following the former SEC chair's resignation.

Regardless of Gensler's departure, regulation remains a significant issue in crypto. Recent actions to dismiss lawsuits and terminate investigations indicate this is the case.

When questioned by the banking committee, Atkins stated that the SEC under his leadership will prioritize regulatory clarity.

"A primary objective of my chairmanship will be to collaborate with my fellow commissioners and Congress to establish a solid regulatory foundation for digital assets through a logical, consistent, and principled approach," he noted in a prepared testimony.

Although the report indicates that the Senate is delaying a vote on his nomination, the expectation within the crypto ecosystem is that his confirmation is imminent.

In the meantime, interim chair Mark Uyeda continues to guide the SEC in what industry participants believe is the right direction.