Crypto journalist Eleanor Terrett has reported on the delay in the confirmation of the newly appointed crypto-friendly Chairman of the U.S. Securities and Exchange Commission (SEC), Paul Atkins.
Despite being nominated, Atkins has yet to take office, prompting questions from the crypto community.
According to Terrett, the delay is due to the Senate's confirmation process, which prioritizes cabinet members over other key positions. Nine cabinet members are currently still awaiting confirmation, further delaying Atkins' interview.
Atkins’ nomination will need to appear before the Senate Banking Committee before it can be voted on by the full Senate. While a hearing date has not yet been set, her confirmation is expected to proceed without major hurdles.
For reference, past SEC Chairs have faced similar delays. Previous SEC Chair Gary Gensler was nominated by President Biden in January 2021 but was not confirmed until April of that year. Similarly, Jay Clayton, nominated by President Trump in January 2017, did not receive Senate confirmation until May 2017.
*This is not investment advice.
