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During a contentious Senate Banking Committee hearing on March 27, President Trump's pick for SEC Chairman, Paul Atkins, made a fiery pledge to restore morale, end politicized regulation, and ensure fairness for new sectors, such as crypto.

“Since 2017, I’ve led industry efforts to develop best practices for the digital asset industry,” Atkins said. “I’ve seen how ambiguous and non-existent regulation of digital assets creates uncertainty in the market and inhibits innovation.”

He added, “A top priority of my chairmanship will be to work with my fellow Commissioners in Congress to provide a firm regulatory foundation for digital assets through a rational, coherent and principled approach.”

The remarks come as part of Atkins’ confirmation testimony, where he positioned himself as a seasoned regulator and private-sector executive — with a career that has spanned roles at the SEC and at Potomac Global Partners, the consulting firm he founded. Atkins stated he would resign and divest from Potomac if confirmed.

“I’m fortunate to have served previously at the SEC... and ultimately as Chief of Staff,” he told lawmakers. “From 2002 to 2008 I was honored to serve as an SEC Commissioner. In that time, I advocated for greater transparency and emphasized robust cost-benefit analysis when considering new regulations.”

Atkins faced questioning from Senator Elizabeth Warren, who accused him of regulatory failures leading up to the 2008 financial crisis and potential conflicts of interest from his current firm’s crypto clientele — including now-bankrupt FTX. Atkins, however, maintained that the crypto sector deserves regulatory clarity, not political gamesmanship.

"The SEC suffered a series of damaging losses," noted Senator Tim Scott, referencing overturned rulemaking, sanctioned staff, and record attrition. In response, Atkins said, "I commit to get to work… to cure some of the dysfunction that's there, the demoralization of it, and get back to this mission that's very important."

Scott asked whether Atkins supports Acting Comptroller Michael Hsu's recent decision to remove "reputational risk" from OCC bank examinations—a step that critics say shields crypto from biased oversight. "I do, senator," Atkins answered instantly.