Gary Gensler resigned from his position as SEC Chairman the day Donald Trump became President.
While Trump's appointee as SEC chairman, Paul Atkins, awaits Senate confirmation, SEC Member Mark Uyeda is chairing the SEC on an interim basis.
The long awaited day has finally arrived, and SEC Chairman nominee Paul Atkins will appear before the Senate Banking Committee for his long-awaited confirmation hearing on March 27th.
According to the published schedule, the committee will decide on March 27 whether Atkins is a suitable candidate to replace Gary Gensler, and will also consider other pro-crypto candidacies.
Following Atkins' opening statement, committee members will ask questions on a number of issues. If Atkins passes the committee, he will then need to be confirmed by the Senate. However, if the Senate approves, he will begin his duties as SEC Chairman.
Paul Atkins, who previously served as a commissioner at the SEC, is now a big supporter of Bitcoin (BTC) and cryptocurrencies.
At this point, Paul Atkins's inauguration as SEC Chairman is of great importance for the cryptocurrency market. Because there are applications for adding staking to Ethereum ETFs and altcoin ETF applications such as XRP and Solana pending before the SEC. Paul Atkins is expected to take office for the decision on these applications.
*This is not investment advice.
