Ron Hammond from the Blockchain Association shared some thoughts on the future of the SEC under the leadership of Paul Atkins. In an interview with Tony Edwards of Thinking Crypto, when asked if the SEC might drop some non-fraud cases, like the ongoing Ripple lawsuit, Hammond expressed optimism.
He believes there could be a push to settle cases like Ripple’s quickly, allowing the industry to move forward. However, he said that it’s still unclear exactly how Atkins will handle the current litigation. Still, there’s hope that the new leadership will speed up settlements and resolve cases that have been lingering in court for too long.
Clearer Regulations in the Future?
Hammond also said that while it’s not guaranteed, there is hope for clearer regulations under Atkins’ leadership. The SEC might finally settle some of the high-profile cases and provide the much-needed regulatory clarity the crypto industry has been waiting for. In addition to SEC action, legislation could also play a role in bringing clearer guidelines to the sector. However, this will take time, and the outcome remains uncertain.
Paul Atkins: The Next SEC Chair
Paul Atkins is expected to be confirmed as the next SEC chair by the end of January. Currently, he is working through the paperwork, with hearings on his nomination taking place in the coming weeks. Hammond speculates that Atkins will likely appear before the Senate Banking Committee either next week or the week after. A key issue during these hearings will be the stance of Senator Elizabeth Warren, a vocal critic of crypto. How much attention Warren gives to crypto during these hearings could influence the SEC’s approach to the industry in the coming years.
What’s Next for the SEC?
Hammond believes that Atkins is seen as a non-controversial pick, meaning his confirmation should move forward smoothly. Once confirmed, Atkins will work alongside key SEC staff like Hester Peirce and Mark Uyeda, who have been advocating for clearer regulations for years. With Atkins in place, the hope is that the SEC will finally provide the much-needed clarity for the crypto industry and work with Congress to pass meaningful legislation.
