Michael Saylor Declares New SEC Chair Paul Atkins ‘Is Good for Bitcoin'
Michael Saylor wasted no time calling it. Just two days after Paul Atkins took the helm as U.S. Securities and Exchange Commission (SEC) Chair, the Strategy (MSTR) CEO dropped a statement on X: 'SEC Chairman Paul Atkins will be good for Bitcoin.' Bitcoin bulls just got a new ally in Washington.
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Crypto Leaders Praise Atkins' Appointment
Saylor wasn't alone in his optimism. Blue Macellari, head of digital assets at T. Rowe Price, echoed that sentiment in a Bloomberg interview. She noted the SEC's shift in tone since Atkins stepped in, pointing to 'close to six or seven roundtables' with industry professionals. Her take? 'I think that that's gonna feed into the ability to make thoughtful and considerate policies.'
Vincent Liu from Kronos Research took it further. Speaking to Cointelegraph, Liu said, 'Under Chair Atkins, finalizing custody rules for digital assets is expected to provide the investor protections that institutions demand.' He added that clarifying whether digital assets are securities or commodities would 'bring much-needed clarity paving the way for the next wave of crypto product innovation.'
Critics Question Atkins' Crypto Ties
Not everyone is cheering. Massachusetts Senator Elizabeth Warren came in swinging during Atkins' confirmation, accusing him of 'staggeringly bad judgment' during his SEC tenure before the 2008 financial crisis. She also took issue with his consulting firm, Patomak Global Partners, which advised FTX before its collapse in 2022.
Warren didn't hold back, accusing Atkins of being in a 'prime spot to deliver for all those clients who've been paying you millions of dollars for years.'
Liu offered a solution for the brewing conflict. He said, 'To maintain public trust and avoid even the perception of regulatory conflict of interest, it's essential to implement clear guardrails.' That means mandatory disclosures, ethics oversight, and transparent comment periods for all crypto rules.
The new SEC chair change is sure to impact crypto sentiment and, in turn, crypto prices. Investors should stay ahead of the curve and monitor market reactions through the TipRanks Cryptocurrency Center.
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