Big news for crypto in the US! On April 9, 2025, Paul Atkins was confirmed as the new Chair of the SEC by the Senate, with a 52–44 vote. Get ready for a potential shift in how things are done for the crypto industry.

The crypto world is buzzing with excitement about this! Many believe Atkins will bring a breath of fresh air, fostering transparency and encouraging innovation—a stark contrast to the perceived tougher stance of the previous chair, Gary Gensler.

Paul Atkins: A New Direction for Crypto in the US?

In the latest Crypto in America podcast episode, Congressman Tom Emmer—a Republican, House Majority Whip, and co-leader of the Congressional Crypto Caucus—expressed his optimism. He thinks Atkins is just what the crypto space needs right now.

Emmer sounds really confident that Atkins will guide the SEC back to its fundamental purpose: making sure all Americans can participate in the best financial markets out there, and that definitely includes digital assets.

“I believe Paul Atkins will bring the clarity and certainty we’ve been desperately needing. For over nine years, I’ve been saying, we need to define what’s a currency, what’s a security, and what’s a commodity. Frankly, I’m tired of the legal back-and-forth, letting lawyers and courts dictate things. We’re Congress! It’s time for us to act! I think this starts with the new SEC Chair. He can give us direction, much like Trump is doing with executive orders,” Emmer said.

This statement really hits on a core issue: the crypto industry has been clamoring for a clear legal rulebook for ages.

Paul Atkins isn’t new to the SEC scene. He was an SEC Commissioner way back from 2002 to 2008 under President George W. Bush. Even then, he was known for being pro-free market and wanting to cut down on unnecessary regulations.

After his time at the SEC, Atkins started Patomak Global Partners, a consulting firm helping crypto companies navigate the often confusing world of regulations.

And get this, since 2017, he’s also been Co-Chair of the Token Alliance, part of the Digital Chamber of Commerce, pushing for better practices in how digital assets are issued and traded.

Atkins’ background really shows he gets both tech and finance. Emmer anticipates he’ll take a “light-touch” approach—aiming to support crypto innovation, not stifle it with red tape.

“I think he’s going to ensure the SEC becomes what it’s meant to be. Gary Gensler, in my opinion, took it off course. The SEC’s job is to make sure every American can access the best financial markets globally. But Gensler seemed to say, ‘Traditional finance? Sure, come on in. New digital stuff? Nope, that’s bad. We’re going to stop you,’” Emmer said.

Emmer also mentioned this leadership change could pave the way for important laws like the FIT 21 Act, which already passed the House in May 2024, aiming to set clear rules for digital assets.

With Atkins on board and the Trump administration backing crypto—remember their promise to make America the “crypto capital”?—Emmer believes Congress can finally turn these ideas into real laws, making a lasting impact on the crypto market.

Gary Gensler’s Legacy: A Tough Act to Follow (or Not?)

On the flip side, Emmer didn’t hold back when talking about Gary Gensler, suggesting he set “a pretty low bar” for the SEC.

“We need clarity and certainty so investors and entrepreneurs can, you know, take risks and innovate. But what was Gary Gensler doing? He was halting innovation! He’d say, ‘My door’s open! Bring your ideas, we’re happy to talk.’ But if you were actually naive enough to do that, you’d often end up sued or with an investigation letter,” Emmer criticized.

According to a report from Paradigm, the SEC has been pretty active in crypto enforcement since 2015, taking action against 171 projects and individuals.

Interestingly, these actions happened across three presidencies and three SEC chairs, but almost half—a whopping 88 cases—happened under Gensler’s watch.

Emmer also highlighted a seeming contradiction in Gensler’s stance on meme coins, which are often seen as risky and even fraudulent.

“I heard a lot of complaints about meme coins yesterday during the hearing… But get this, Gary Gensler is the one who basically said meme coins are fair game! He’s the one who, in a way, enabled the meme coin craze as we know it today… If you don’t like meme coins, complaining isn’t enough. We need to figure out how to create some safeguards,” Emmer revealed.

Emmer’s point is clear: Gensler focused on criticism and punishment rather than providing helpful guidance. With Atkins, he’s hoping for a turnaround—an SEC that supports the crypto industry’s growth in the US, rather than just policing it.

A New Chapter for Crypto Policy?

According to Tom Emmer, Paul Atkins’ appointment is more than just a personnel change. It’s a chance to completely reboot crypto policy in America. Atkins could be the key to unlocking Congressional action and, crucially, keeping crypto businesses here in the US instead of watching them move overseas.

With a clear and supportive approach, Atkins has the potential to transform the SEC from a regulatory roadblock into an agency that champions the future of digital finance.

If things go as hoped, the crypto industry might just be on the verge of a major growth spurt under his leadership.