Key Approval for Shanzhai Coin ETFs: SEC’s New Nominee to Undergo Senate Hearing Next Week, Expected to Officially Take Office by April

Paul Atkins served as an SEC commissioner, is a supporter of digital assets, and operates a financial compliance consulting firm in Washington. He is expected to continue the pro-cryptocurrency policies initiated by acting Mark Uyeda following Trump’s return to the White House.

On the other hand, the Senate Banking Committee announced in an email on Thursday that the same hearing on March 27 will also consider the nomination of Jonathan Gould to serve as Director of the Office of the Comptroller of the Currency (OCC). The OCC is responsible for regulating national banks in the United States and is crucial for cryptocurrency companies that have long sought access to banking services. According to current legislative trends, the OCC will not only become a key institution for the digital asset industry to obtain U.S. banking services but may also regulate future stablecoin issuers. Additionally, the same hearing will consider the appointment of Luke Pettit as Assistant Secretary of the Treasury.

Trump’s nomination of Paul Atkins to replace former SEC Gary Gensler is seen as a significant development in the SEC’s overhaul. Bloomberg analysts have also pointed out that Paul Atkins‘s formal appointment is a critical factor in whether altcoin ETFs can be successfully approved.

During Gary Gensler‘s tenure, the SEC was criticized by the cryptocurrency industry for “replacing regulation with enforcement.” After Mark Uyeda took over temporarily, this approach changed; he withdrew lawsuits against several cryptocurrency companies, paused other cases, and informed several crypto companies that related investigations had been concluded.