Cryptocurrency enthusiasts eager for the confirmation of new SEC Chair nominee Paul Atkins, known for his cryptocurrency-friendly stance, will have to wait a little longer. Cryptocurrency journalist Eleanor Terrett recently clarified the reasons behind the delay, addressing the numerous inquiries she’s received on the matter.
Terrett explained that the Senate confirmation process involves numerous new administration members, with cabinet members typically prioritized. Currently, nine cabinet member nominations still await Senate votes.
Atkins’ confirmation process will involve a hearing before the Senate Banking Committee. A date for this hearing has yet to be set. If his nomination successfully advances out of the committee, as expected, it will then proceed to a full Senate vote.
Terrett provided historical context, noting that previous SEC chairs also experienced similar timelines. Gary Gensler, nominated by President Biden in January 2021, wasn’t confirmed until April of that year. Similarly, Jay Clayton, nominated by President Trump in January 2017, wasn’t confirmed until May of the same year. These precedents suggest that Atkins’ confirmation process is proceeding within a typical timeframe. While the exact date remains uncertain, the delay is not unusual and should not be interpreted as a setback for his nomination.
