Paul Atkins Confirmed by US Senate: Incoming SEC Chair Awaits Oath

The US Senate yesterday (Wednesday) confirmed Paul Atkins as the next Chair of the Securities and Exchange Commission (SEC) with a 52–44 vote, mostly along party lines. However, all the panel’s Democrats opposed President Donald Trump’s nominee for the top regulatory role.

The Incoming SEC Chair

Following the confirmation, Atkins now only needs to take the oath to officially become the SEC Chair, replacing Acting Chair Mark Uyeda, who assumed the role on 20 January after Gary Gensler stepped down.

“A veteran of our Commission, we look forward to him joining us, along with our dedicated staff, to carry out our mission on behalf of the investing public,” three of the agency’s commissioners, including Uyeda, wrote in a statement welcoming Atkins’ confirmation.

Atkins previously served as an SEC Commissioner between 2002 and 2008, during the global financial crisis. He is a former Wall Street consultant who has also worked with crypto firms and is known for his pro-crypto stance, which may influence the agency’s future direction.

I'm pleased Paul Atkins is confirmed as Chairman of the SEC. I sat down w/ Mr. Atkins to discuss digital asset legislation, empowering Wyoming’s blockchain future & implementing reforms to the regulatory rulemaking process. I'm confident his leadership will bring positive change. pic.twitter.com/1cpGrNjSrg

— Senator Cynthia Lummis (@SenLummis) April 9, 2025

A Wealthy Regulator for the Financial Markets

Although President Trump nominated Atkins late last year, his confirmation by the Senate took longer than expected, reportedly due to financial disclosures he had to submit relating to his marriage into a billionaire family.

According to those disclosures, Atkins and his wife, Sarah Humphreys Atkins, have a joint net worth of $327 million. Married in 1990, Atkins’ wife’s family is linked to TAMKO Building Products, a manufacturer of residential roofing shingles. The company earned $1.2 billion in revenue in 2023, according to Forbes.

The incoming SEC Chair’s disclosures also revealed that he holds up to $6 million in crypto-related investments, including stakes in crypto custody platform Anchorage Digital and blockchain tokenisation firm Securitize.

Meanwhile, under Uyeda’s leadership, the SEC has already made major changes to its crypto enforcement. The agency dropped several high-profile lawsuits and investigations against crypto firms and reduced the size of its crypto-specific enforcement unit.