Michael Saylor, the executive chairman of Strategy (formerly MicroStrategy), said Paul Atkins will be good for Bitcoin. He posted the message on X on April 23. The announcement followed Atkins‘ appointment as the 34th U.S. Securities and Exchange Commission (SEC) chair. He was officially sworn in on April 21 under the Trump administration.
Paul Atkins’ appointment attracted early attention from the crypto industry. Saylor, known for leading a corporate strategy based on Bitcoin holdings, was among the first to support the new SEC Chair publicly.
Atkins now holds the responsibility to lead the SEC during a time when digital assets face growing regulatory scrutiny. His policy stance and previous experience at the SEC from 2002 to 2008 are again under review.
Industry Names Expect Crypto Policy Shift Under Paul Atkins
Blue Macellari, head of digital assets at T. Rowe Price, said the SEC under Paul Atkins has already shown signs of change. In an interview with Bloomberg, she said the agency held “close to six or seven roundtables” with crypto professionals. Macellari described these meetings as steps toward more informed SEC regulation.
Vincent Liu, chief investment officer at Kronos Research, told that he expects Paul Atkins to finalize custody rules. These rules will affect how institutions hold digital assets. Liu said this change could support investor protections.
He also mentioned that the SEC may soon clarify whether certain tokens are securities or commodities. These decisions are key for crypto product development and legal classification.
Paul Atkins Appointment Gets Mixed Reactions from Crypto and Government Figures
Support for Paul Atkins came from several crypto figures. Bitwise Asset Management’s general counsel Katherine Dowling said he is a “great choice.” Ripple CEO Brad Garlinghouse also welcomed the decision, saying Atkins would restore a “common sense” approach.
However, Senator Elizabeth Warren strongly opposed the nomination. During a Senate hearing, she criticized his track record at the SEC before the 2008 financial crisis. She said Atkins had shown “staggeringly bad judgment” in his previous role.
Warren also focused on Paul Atkins’ connection to the collapsed crypto exchange FTX. His firm, Patomak Global Partners, advised FTX before its collapse in 2022. She said:
“Your clients pay you north of $1,200 an hour for advice on how to influence regulators like the SEC, and if you’re confirmed, you will be in a prime spot to deliver for all those clients who’ve been paying you millions of dollars for years.”
Elizabeth Warren Presses on Ethics as Crypto Industry Watches
In March, Senator Warren sent a letter raising concerns about Paul Atkins’ ties to crypto firms. Public ethics filings show that Atkins holds a personal and family financial portfolio worth more than $327 million.
Warren asked how Atkins would avoid conflicts of interest, especially given his firm’s work with FTX. His past consulting work has raised questions within both government and the crypto industry.
Vincent Liu said clear regulations are needed to keep public trust. He recommended guardrails like disclosure of ties to the crypto industry and public input before changes in SEC policy.
More Trump-Era Appointees Under Review for Crypto Involvement
David Sacks, named as the Trump administration’s crypto and AI advisor, also came under review. His firm sold over $200 million in crypto and blockchain-related stocks before he assumed his new role. The transaction was disclosed in early March.
These developments add pressure on Paul Atkins as he begins his term as SEC Chair. Both critics and supporters are watching for his next moves on crypto regulation.
The SEC is expected to release guidance on digital asset custody and security classifications. Paul Atkins has not yet issued any new public statements since taking office.
His leadership comes as digital asset firms continue to seek clear and consistent rules. Crypto policy under Atkins remains a key issue for both market participants and government officials.
