The Securities and Exchange Commission has a new chairman, and many prominent figures in the industry are rushing to weigh in on the new sheriff in town. Paul Atkins, who officially took office on April 22, opened his speech with a message of direction and reform. But it wasn’t just the political tone that drew attention — it was the language.
Just days before Atkins made his first public comments, Ripple’s chief legal officer, Stuart Alderoty, reacted to the potential leadership change. He was laconic but eloquent, calling what’s coming “a new day.” What’s surprising is that Atkins used the exact same phrase to describe the agency’s new chapter.
It was a small moment, but not a quiet one. Alderoty, fresh off Ripple’s partial victory in its long legal battle with the SEC, drew a clear connection between the timing of his words and those of the new chairman. For a lawyer who spent years battling the agency’s previous leadership, the overlap was more than a coincidence.
Great minds? Well, at least one for sure- his. pic.twitter.com/w1LGTPiTbT
— Stuart Alderoty (@s_alderoty) April 23, 2025
Whether it is strategy or symbolism, the SEC’s tone has started to move. The next step is substance.
Atkins is stepping into the role with a different mandate. While Gary Gensler’s tenure was marked by aggressive enforcement and confrontations with the crypto industry — the Ripple case being the highest profile among them — the expectations around Atkins are centered on regulatory clarity and depoliticization. His early messaging emphasized structure, investor protection and a return to mission fundamentals.
Meanwhile, market participants are watching what happens next. The SEC is currently reviewing over 70 crypto-related ETF applications, many of which have been stalled under the previous administration. Atkins’ approach could shape how — and when — these decisions start moving.
