The crypto community in the U.S. has been waiting for a pro-crypto era, hoping for clearer regulations and support for innovation. The first step towards that vision was taken when Trump promised to make the U.S. the crypto capital of the world. Now, the second step is being taken as Paul Atkins is officially sworn in as SEC Chair.
During the swearing-in ceremony, President Trump introduced Atkins as the “perfect person” to lead the SEC and promised that the SEC’s approach to regulating digital assets would be more sensible and fair under his leadership. Trump also expressed hope that Atkins would put an end to the SEC’s misuse of power and unfair enforcement action under Biden’s administration. Atkins himself stated that one of his top priorities as SEC Chair would be to provide a firm regulatory foundation for digital assets through a rational and principled approach.
Atkins also assured that he would make the U.S. the safest and most supportive country for crypto operations and activities, and keep politics out of securities regulations.
Many industry experts have expressed their support and belief in Atkins as the industry prepares for a shift towards a regulatory clarity and guidance-driven framework. Michael Saylor, the CEO of Strategy, stated that Atkins will be good for Bitcoin. Mitchell DiRaimondo, Founder of SteelWave Digital, commented that Atkins brings the clarity needed at this time and that Bitcoin finally has an ally in the SEC.
Under Acting Chair Mark Uyeda, the SEC has been making progress in reshaping virtual currency regulation. A Virtual Currency Task Force led by Commissioner Hester Peirce has been working on key issues and has already held two roundtables. The third meeting, scheduled for April 25th, will focus on crypto custody.
The crypto market experienced a rally on Thursday, with Bitcoin reaching $93,500 and major tokens like Cardano and Ethereum jumping over 14%. The rally was driven by a weaker US dollar, positive comments on US-China relations, and increased institutional demand. Other top performers included Solana, XRP, BNB, Dogecoin, Shiba Inu, and Sui Network’s SUI, which saw significant gains.
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