Paul Atkins, President Donald Trump’s nominee for chair of the U.S. Securities and Exchange Commission, promised to usher in deregulation at the agency and said bringing regulatory clarity to the crypto industry would be a top priority during his confirmation hearing Thursday.
“The current regulatory environment for our financial system inhibits investment and often punishes success,” Atkins told the Senate Banking, Housing, and Urban Affairs Committee. “Unclear, overly politicized, complicated and burdensome regulations are stifling capital formation while American investors are flooded with disclosures that do the opposite of helping them understand the true risks of an investment. It is time to reset priorities and return common sense to the SEC.”