Paul Atkins, President Donald Trump’s nominee to steer the U.S. Securities and Trade Fee (SEC), disclosed a mixed whole of at the very least $327 million in property together with his spouse, Sarah Humphreys, earlier than his affirmation listening to on March 27.
This disclosure, made public by the U.S. Workplace of Authorities Ethics, sheds gentle on Atkins’ monetary holdings, together with stakes in his consulting agency Patomak International Companions and Tamko Constructing Merchandise, a roofing firm managed by Humphreys and her household.
Atkins, who served as an SEC commissioner from 2002 to 2008, reported vital property. These embrace as much as $50 million in membership curiosity at Patomak and between $250,000 and $500,000 in choices at Securitize, a number one tokenization platform. He additionally holds between $1 million and $5 million in Off the Chain Capital, a crypto funding agency the place he’s a restricted associate, in line with Fortune.
If confirmed, Atkins has dedicated to resigning as Patomak’s CEO and divesting his membership curiosity and inventory choices. His monetary ties are more likely to be a spotlight throughout his Senate Banking Committee listening to.
Senator Elizabeth Warren has already said that she’s going to query him about his affiliation with FTX and different crypto purchasers. Nevertheless, some Republicans resembling Senator Cynthia Lummis place confidence in Atkins to offer route to the cryptocurrency trade.
Atkins’ affirmation is an important transfer to fill the place left vacant by the previous SEC Chair Gary Gensler with Mark Uyeda presently performing because the chair of the company.
This nomination could have an ideal impression on the additional growth of the cryptocurrency regulation in america.
Additionally Learn: Has SEC under Trump asked to look the other way on Crypto?
