Original author: TechFlow
Trumps extreme tariff policy has set off a storm in the global market, and the prices of cryptocurrencies such as Bitcoin are looking for direction amid violent fluctuations.
Amid great uncertainty, there seems to be definite good news.
On April 9, the U.S. Senate confirmed Paul Atkins as the new chairman of the U.S. Securities and Exchange Commission (SEC) by a vote of 52 to 44.
As a regulator known for supporting innovation and free markets, Atkins appointment is seen by the crypto community as a potential turning point in the SECs attitude toward crypto assets.
He made it clear that developing a clear regulatory framework for digital assets would be a top priority, in stark contrast to the hard-line enforcement style of former Chairman Gary Gensler.
The crypto market is often described by regulators as the Wild West, and tensions between regulators and the industry are common.
But now, Atkins arrival may make people start to look forward to a friendlier and more collaborative regulatory environment again.
At a time of turmoil and opportunity, Atkins’ next move is fascinating.
Can this new chairman, who started out as a Wall Street lawyer, served as an SEC commissioner, and is now deeply involved in the field of digital assets, bring the long-awaited clear rules?
The answer may lie in his life.
Small town youth, doctor of law
Like most people, the new chairman was originally a studious young man from a small town.
Paul Atkins story begins in a small town in the southeastern United States. Born in Lillington, North Carolina, he spent his childhood and teenage years in Tampa, Florida, a sunny city that laid a solid foundation for his life.
In 1980, Atkins received his Bachelor of Arts degree from Wofford College, where he was elected magna cum laude to the Phi Beta Kappa honor society and joined the Kappa Alpha Order fraternity, demonstrating his dual talents in academics and social life.
Three years later, he earned his J.D. from Vanderbilt Law School, where he served as senior student writing editor for the Vanderbilt Law Review.
This job during his student days may be the starting point of his legal and regulatory thinking, cultivating his attention to legal details and rigorous thinking.
Some people describe him as quiet but decisive. This trait stems from the humility of a small town and is integrated with the thinking behind the rules, which also partially constitutes the most distinctive outline of his personality.
Atkins, who came from the small town of Tampa, completed the transformation from a student to a professional with the steadiness and courage of a dreamer that are unique to Southern youth.
From lawyer to regulator
Paul Atkins began his career on the legal stage in New York City.
After graduating from law school in 1983, he joined Davis Polk Wardwell, a top law firm known for its corporate transactions.
He focused on securities and finance law at the New York office and was subsequently assigned to the Paris office for two and a half years, qualifying as a French legal counsel (conseil juridique) in 1988.
This international experience exposed him to the complexity of cross-border financial regulation and provided him with valuable experience for his future work at the SEC.
In the 1990s, he returned to the United States to assist financial services companies in navigating SEC regulations and was involved in the aftermath of the Bennett Funding Group case, a $1 billion Ponzi scheme that highlighted his ability to handle crises.
Public records show that by stabilizing finances and operations and rebuilding and expanding the business, he increased stock value for the companys remaining investors by nearly 2,000%.
On July 9, 2002, Atkins’ career trajectory reached a high point when he was appointed SEC Commissioner by President George W. Bush, a term that lasted until August 1, 2008.
Earlier in his career, he served as chief of staff and advisor to SEC Chairman Richard C. Breeden and Arthur Levitt, respectively.
He is known for his stance in support of free market principles and reducing regulatory burdens, stating explicitly in a 2007 speech: The SEC must not squeeze investors out of the market through onerous regulation.
After leaving the SEC in 2008, Atkins founded Patomak Global Partners, a financial services consulting firm based in Washington, D.C., and New York that focuses on regulatory compliance and corporate governance advice.
During this time, he served as independent compliance counsel in numerous enforcement settlements with the DOJ, SEC, and CFTC. From 2012 to 2015, he served as an independent director and non-executive chairman of the board of directors of BATS Global Markets, an electronic securities trading platform that was later acquired by the Chicago Board Options Exchange (CBOE).
His personal life also stabilized during this period, and he had three sons with his wife Sarah Humphreys Atkins, who was a major donor to the Republican Party, with donations totaling more than $9.9 million (Paul S. Atkins - Wikipedia).
From lawyer to SEC commissioner to consulting authority, Atkins career journey demonstrates his deep understanding of financial regulation and lays a solid foundation for his return to the position of SEC Chairman in 2025.
Appreciated by Trump, also a crypto holder
Paul Atkins’ deep background in financial regulation extends to the digital frontier with the rise of cryptocurrency.
Since 2017, he has served as co-chair of the Chamber of Digital Commerce’s Token Alliance, leading this industry initiative alongside former CFTC Chairman James Newsome.
Token Alliance aims to develop best practices for the issuance and trading of digital assets, and its important achievements include the release of Understanding Digital Tokens: Market Overview and Guidelines for Policymakers and Practitioners . This report provides an overview of digital token laws in five countries and analyzes trends in the token economy, aiming to promote responsible governance and reduce fraud.
His personal investment further highlights his support for digital assets.
On March 25, 2025, Fortune magazine revealed that Atkins holds up to $6 million in crypto-related assets, including his shares or other investments in crypto custody company Anchorage and tokenization company Securitiz, but he does not hold Bitcoin.
These investments show his confidence in the crypto ecosystem, but also spark controversy. On March 26, 2025, Senator Elizabeth Warren questioned his potential conflict of interest;
Atkins responded that these assets reflect his optimism about the potential of the technology rather than speculative attempts. Isn’t this a bit like the tone of your coin-holding brothers in the crypto community expressing their stance to you?
In terms of regulatory concepts, Atkins also tried to draw a clear path for the crypto industry.
Atkins has made clear over the years that he supports clearer regulation of cryptocurrencies that avoids stifling innovation or imposing unnecessary oversight. He has also criticized the Dodd-Frank Act, which was enacted to rein in large U.S. banks after the 2008 financial crisis.
In December last year, President-elect Trump issued a statement on Truth Social saying that Atkins is a recognized common-sense regulatory leader who recognizes that digital assets and other innovations are critical to making America greater than ever.
Iron fist vs. tolerance, the styles of the two SEC chairmen
If you put the historical information together, you can see that Paul Atkins and Gary Gensler represent two very different paths for the SEC to regulate cryptocurrency.
Gensler, who was nominated by President Joe Biden to serve as SEC chairman on April 17, 2021, has called the crypto market the “Wild West” and stressed tough regulation to protect investors from fraud and market manipulation.
During his tenure, the SEC approved the first Bitcoin futures ETF on October 15, 2021, but was cautious about spot Bitcoin ETFs. At the same time, it launched enforcement actions against a number of crypto companies, such as the lawsuit against Genesis and Gemini for unregistered securities offerings in January 2023. This iron-fisted style put considerable pressure on the industry.
In contrast, Atkins, nominated by Trump on April 9, 2025 and confirmed as SEC chairman by a vote of 52-44, brings a more inclusive regulatory philosophy.
“If the SEC was more inclusive and dealt with these [crypto] companies head on, I think it would be better for what happened in the United States rather than abroad,” he said in a February 2023 podcast.
This stance continues his pro-free-market attitude when he was a SEC commissioner (2002-2008). His work with the Token Alliance and his $6 million investment in crypto assets further demonstrate that he is more inclined to understand and support industry development.
The two mens regulatory philosophies are in stark contrast.
Gensler focuses on investor protection and tends to consider most tokens as securities, with law enforcement as the priority; while Atkins advocates clear rules and emphasizes cooperation with the industry, which may promote more detailed asset classification.
Genslers tough attitude caused dissatisfaction in the industry. For example, Coinbase publicly criticized his regulatory ambiguity; Atkins appointment was welcomed, and CoinDesk called it a victory for the crypto industry.
From iron-fisted to inclusive, this confrontation heralds a major turning point in the SECs regulatory direction.
Once again, the new SEC chairman made it clear when he took office that developing a comprehensive digital asset regulatory framework is a top priority; based on his experience at Token Alliance and investments in companies such as Anchorage and Securitize, he may push to clarify which crypto assets constitute securities, simplify the issuance registration process, and create a more favorable environment for crypto financial products.
On the optimistic side, this framework may end the long-standing regulatory ambiguity. For example, the approval of spot Bitcoin ETFs may see a turning point.
But given the perception that Trump does not play by the rules and uses the crypto industry as a tool, it remains unknown how much beneficial action the SEC chairman can take.
But no matter what the outcome, his regulatory blueprint will become the focus of the crypto industry. The first step of the new chairman may determine the next decade of cryptocurrency in the United States and even the world.
