Gary Gensler resigned from his position as SEC president on the day Donald Trump became president.
SEC member Mark Weda is interim chairman of the SEC while Trump appointee Paul Atkins awaits confirmation of the Senate.
The much-anticipated day has finally arrived, with SEC Chairman candidate Paul Atkins appearing on March 27th before the Senate Banking Committee for the much-anticipated confirmation hearing.
According to the published schedule, the committee will determine on March 27 whether Atkins is the right candidate to replace Gary Gensler, and will also consider other custody candidates.
Following Atkins’ opening statement, committee members will ask questions about many issues. If Atkins passes the committee, he must be confirmed by the Senate. However, if approved by the Senate, he will begin his duties as SEC president.
Paul Atkins, a former commissioner for the SEC, is currently a major supporter of Bitcoin (BTC) and cryptocurrency.
At this point, Paul Atkins’ inauguration as SEC Chairman is extremely important to the cryptocurrency market. This is because there are applications for adding staking to Ethereum ETF and AltCoin ETF applications such as XRP and Solana Posit, which are pending before SEC. Paul Atkins will be appointed to make decisions regarding these applications.
*This is not investment advice.
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