Paul Atkins Confirmed As SEC Head: A Strategic Win For Trump

There are nominations that go unnoticed, like those eclipses that one misses for not lifting their eyes at the right moment. And then there are those, like Paul Atkins’ appointment as head of the SEC, that make the gears of power grind, make the markets shudder and raise a few eyebrows among regulators. A change of direction amid crypto tensions. Welcome behind the scenes of a turn that could reshuffle the cards of American financial regulation.

A new face at the SEC: Atkins, the alternative to Gensler?

On April 3rd, in the subdued atmosphere of the Dirksen Office Building, Paul Atkins crossed a decisive milestone: the Senate Banking Commission approved him by 13 votes to 11. This name did not fall randomly from the presidential hat: it embodies a vision very different from that of Gary Gensler, his feared predecessor in the crypto industry for his stick rather than carrot policy, a change welcomed by the crypto industry.

Tim Scott hailed the nomination as a promise of “clarity” for digital assets. A word that makes one dream in a sector often mired in legal labyrinths.

But for Elizabeth Warren, Atkins would rather be the key for “billionaire crooks,” like Bankman-Fried or Elon Musk. Just that.

While some enjoy this new breath, others are already worried. Mark Uyeda, appointed interim president after the express departure of Gensler on January 20th (exactly the day of Trump’s inauguration), quietly abandoned several lawsuits against crypto companies… some of which are close to the presidential circle, like Ripple Labs.

The setting is established, the cards redistributed, and some familiar faces – with Musk at the forefront – may now even have access to the SEC’s internal systems. A small silent revolution.

• Tight nomination approval by 13 votes to 11 in the Senate.
• Tim Scott promises more transparency for crypto assets under Atkins.
• Elizabeth Warren denounces support for the most controversial crypto elites.
• The SEC drops landmark lawsuits like that of Ripple Labs.
• Trump and Musk associates may now have access to the SEC’s internal systems.

Stablecoins and conflicts of interest: the specter of World Liberty Financial

But the story does not end with a simple transfer of power. It continues in the corridors of the Office of the Comptroller of the Currency (OCC), where the USD1 project, a stablecoin issued by World Liberty Financial (WLFI) – the crypto-firm linked to the Trump family – is causing quite a stir and raising some blood pressure.

In a letter sent at the end of March, several senators expressed their fears of seeing Trump directly interfere in the regulation of the project.

And if the OCC, pushed by the White House, ended up facilitating the launch of this stablecoin without safeguards? The fear of a world where regulators become sieves for private interests takes shape.

Coinbase is not to be outdone. The company, co-owner of USDC, has clearly indicated that it would exclude Tether if a law on stablecoins were to be passed in its current terms.

A posture that, according to Nic Carter, recalls SBF’s maneuvers: “Regulatory capture is a poison“, he concludes.

And then, there is this statement from George Selgin, a researcher at the Cato Institute, which resonates like a warning:

No matter who captures whom: if a regulation harms the public interest, then it is problematic.

• The Trump family’s USD1 stablecoin raises concerns among American senators.
• Risks of Trump’s interference in OCC decisions highlighted in an official letter.
• Coinbase suspected of wanting to eliminate Tether via tailored regulation.
• The accusation of regulatory capture strengthens at the heart of political decisions.
• Voices call for the creation of an independent body to oversee regulators.

The American crypto world seems to have found its new narrator… and he is not a dreamer. Paul Atkins, with his business-friendly profile and closeness to polarizing figures, initiates a more conciliatory – or more permissive – era for digital assets. But between political ambitions, games of influence, and disputes over stablecoins, the SEC might just become a minefield.