Senator Elizabeth Warren remembers that the political intervention was driving in the latest crypto decision of the SEC. Paul Atkins, the newly designated chairman of the SEC, has pledged to prioritize clear and transparent regulations for the crypto industry.
His promise marks a significant move in the direction for the agency following the years of controversy.
Paul Atkins Charts New Course for Crypto regulation in the SEC
During an April 25 Roundtable organized by the SEC's Crypto Task Force, Atkins emphasized the urgent need for transparent policies to support change and responsible growth.
“This is an important task because entrepreneurs across the United States will not use the blockchain technology to modernize aspects of our financial system. I hope the benefits of embracing innovation for efficiency, cost reduction, transparency, and risk reduction. Nakasa said.
Meanwhile, Atkins openly criticized the previous SEC leadership under former chairman Gary Gensler. He said a lack of clear policy has been able to develop industry development and push the main players to the side.
Under the Gensler, the SEC has pursued an aggressive implementation approach, submitting suits against major players including Coinbase, Ripple, and Binance.
Today, Atkins swore to correct past missteps. He focuses on cooperation closely with Congress and President Donald Trump to create a regulatory structure that fits the unique properties of digital possessions.
The early signs of this transfer can be seen, with the SEC starting to remove some implementation actions initiated in the previous administration. The Commission also established a dedicated Crypto Task Force to cooperate with industry stakeholders in shaping future policy.
US legislator raises alarms in potential political disruption
While Atkins sought to reset the SEC's approach to crypto administration, concerns were mounted on agency's independence.
On April 25, Senator Elizabeth Warren took the agency's independence under President Trump's leadership. He pointed out the Trump Media & Technology Group (TMTG) efforts to launch crypto-backed ETFs with crypto.com as a potential conflict of interest.
The senator has expressed a particular concern that Trump will personally benefit from products that require the SEC's approval, which describes the situation as an unprecedented ethical risk.
“The President tried to assert his dominance over decision -making to independent agencies such as the SEC through executive orders and firings, putting further pressure on the commission to fall in line,” the lawmaker Nakasa said.
Warren also posted risks linked to World Liberty Financial, a crypto project tied to Trump's family, which recently revealed plans for a new stablecoin.
He emphasized that pending law could provide as soon as the Federal Reserve and the Comptroller's office office of more administration powers. Trump reports looking for more control over these two agencies.
Due to these risks, Warren requested detailed notes from the SEC, including internal assessments and communications in the White House.
He emphasized that these steps are necessary to protect the decision making and maintain the credentials of financial markets.
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