The U.S. Senate Banking Committee voted 13-11 along party lines to advance President Donald Trump’s nominee, Paul Atkins, for Chair of the SEC. 

The nomination now proceeds to a full Senate vote, according to Reuters. 

Committee Chairman Senator Tim Scott praised Atkins for his regulatory experience and commitment to depoliticizing financial oversight, while Democratic Senator Elizabeth Warren opposed the nomination and criticized the administration’s deregulation agenda.

No Democrats supported his nomination. 

The Senate Banking Committee also advanced Jonathan Gould to run the Office of the Comptroller of the Currency.

Trump’s embrace of Atkins

Atkins served as an SEC Commissioner from 2002 to 2008, appointed by President George W. Bush. During his tenure, Atkins advocated for reduced regulatory burdens and promoted financial innovation. 

In December 2024, President Trump announced his intention to nominate Atkins as the next SEC Chair, highlighting his support for common-sense regulations and robust capital markets. 

Atkins is known for his pro-cryptocurrency stance, having previously criticized the SEC’s approach to digital assets under former Chair Gary Gensler. He has called for a rational regulatory framework for crypto and advocated for deregulation to promote investment and capital formation.

Atkins’ nomination has drawn support from various industry bodies and political figures, signaling a potential shift toward a more crypto-friendly regulatory environment.