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Paul Atkins, President Donald Trump\u2019s pick to lead the US Securities and Exchange Commission, on Thursday faced questions from lawmakers on his past regulatory stances and business dealings.\u00a0<\/p>\n
Democrats on the Senate Banking Committee were especially interested in hearing about how Atkins, who served as a commissioner at the SEC under former President Bush, felt securities regulators handled market risks before the 2008 financial crisis.\u00a0<\/p>\n
Atkins has historically maintained that the 2008 crash had \u201cmany causes,\u201d but \u201cderegulation,\u201d as top Committee Democrat Elizabeth Warren suggested, was not one.\u00a0<\/p>\n
Read more:<\/strong> What SEC chair nominee Paul Atkins has previously said about crypto<\/a><\/p>\n \u201cWhat really troubles me is that Congress still has yet to address the real root cause, and that was the subprime mortgage crisis,\u201d Atkins added.\u00a0<\/p>\n Some senators mentioned digital assets, and Atkins himself even took a moment to acknowledge the industry in his prepared remarks at the start of the hearing. He did not however face any specific inquiries about his plans for regulating the asset class.\u00a0<\/p>\n Atkins hopes to provide \u201cclear rules of the road\u201d for crypto companies, he said. Committee Chair Sen. Tim Scott said he hopes Atkins and Comptroller of the Currency nominee Jonathan Gould work to address unfair discrimination against cryptocurrency firms, particularly when it comes to banking.\u00a0<\/p>\n Sen. Elizabeth Warren in her opening statement accused Atkins of \u201chelping billionaire CEOs like Sam Bankman-Fried.\u201d She added that his personal business dealings present conflicts of interest she feels he has not adequately addressed.\u00a0<\/p>\n Atkins, who founded consulting firm Patomak Global Partners after his first stint at the SEC, has a net worth of at least $327 million, according to filings with the Office of Government Ethics. Atkins has said he will sell his stake in the company should he be confirmed, but he did not confirm if he would publicly reveal the details of such a deal.\u00a0<\/p>\n \u201cNo, you\u2019re not going to tell us how much money you get \u2014 to people who will have business in front of the SEC?\u201d Warren wondered in relation to these potential buyers. \u201cYou know, some people might call that a pre-bribe.\u201d<\/p>\n Get the news in your inbox. Explore Blockworks newsletters:<\/strong><\/p>\n Paul Atkins, President Donald Trump\u2019s pick to lead the US Securities and Exchange Commission, on Thursday faced questions from lawmakers on his past regulatory stances and business dealings.\u00a0 Democrats on the Senate Banking Committee were especially interested in hearing about how Atkins, who served as a commissioner at the SEC under former President Bush, felt […]<\/p>\n","protected":false},"author":2,"featured_media":385999,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-385998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/385998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=385998"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/385998\/revisions"}],"predecessor-version":[{"id":386000,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/385998\/revisions\/386000"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/385999"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=385998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=385998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=385998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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