Ripple CEO Brad Garlinghouse has voiced strong support for Paul Atkins’ appointment as the new head of the U.S. Securities and Exchange Commission (SEC). Atkins, a former SEC Commissioner known for his pro-crypto stance, was officially selected on Wednesday after accepting the role earlier this week.
Garlinghouse praised Atkins as an “outstanding choice,” believing his leadership will bring “common sense” back to the agency. This sentiment is widely shared across the broader cryptocurrency industry, which has long pushed for more favorable and transparent regulation.
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Anticipated Changes Under Atkins’ Leadership
The crypto sector is particularly optimistic about the regulatory changes Atkins could bring. Jake Chervinsky, the chief legal officer at Variant, called this moment a “regulatory singularity,” predicting that it will begin a new era for crypto regulation.
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Chervinsky noted that the shift in leadership would be a pivotal moment for the industry, potentially leading to better clarity and less hostility from regulators.
Atkins will succeed Gary Gensler, the present SEC Chair, who has not been friendly to cryptos due to his rigid approach to regulation. Gensler, who insisted on an adversarial approach to digital currencies, will finally depart the agency on January 20. This change has provoked some controversies; however, those involved in the functioning of cryptocurrencies wait for Atkins to bring the proper perspective.
This change of leadership has received immense support from SEC Commissioner Hester Peirce, popularly known as Crypto Mom, who is celebrating the comeback of Atkins to the agency. She says he deserves the top job because of his experience and past service. Other industry leaders, including Cathie Wood of Ark Invest, have also voiced confidence that Atkins’ appointment will help alleviate the regulatory pressure that has stifled innovation in the crypto space.
As the crypto industry looks ahead, many expect Atkins to drive changes that will foster greater clarity and protection for investors while creating a more favorable environment for digital asset growth.
Also Read: Ripple vs. SEC News: CLO Accuses SEC in New Statement, Details
Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.