Before his confirmation audience before the Banque Committee of the US Senate tomorrow, Paul Atkins – the choice of President Donald Trump to lead the American Securities and Exchange (SEC) commission – revealed to have up to 6 million dollars in assets related to the crypto, which prompted senator Elizabeth Warren (D -MASS.) To cry.
In a Sunday letter in Atkins, Warren stressed that the history of the SEC Commissioner as a consultant and lobbyist for the financial industry could create “important conflicts of interest” if he is confirmed.
“You have also been an expert witness hired by Wall Street companies accused of engaging in Ponzi diets and other misconducts that you would now be responsible for the presidency of the SEC. “This will raise serious concerns concerning your impartiality and your commitment to serve the public interest if you are confirmed as the next president of the SEC.”
Warren urged Atkins to consider mitigating these conflicts of potential interests by recusing itself from any question of the SEC involving its former customers and agreeing to do no lobbying, consultant or other work for industry companies regulated by the SEC for at least four years after its departure against the agency. His letter requires a written response to Atkins by Thursday.
Another letter, also dated on Sunday, asked Atkins a series of questions about how he thought that the cryptocurrency industry should be regulated, in parallel with other questions before the goal of the dry.
Atkins’ recent financial disciplines have revealed a family fortune of $ 328 million, according to Reuters, largely from family ties of his wife to the giant of the Tamko Building Products. His consulting firm for risks, Patomak Global Partners – although ATKINS made a range of companies consult, both an crypto and traditional financial, and from which he promised to disintegrate if he was confirmed – was evaluated between 25 and 50 million dollars, Reuters reported.
The active ingredients linked to the Atkins crypto has been evaluated up to $ 6 million, according to a makeshift report, and include a million dollars combined in equity as cryptocurrency caretaker and a secure tokenization company (Atkins held a seat of advice to security until February). Atkins said that he had reached a participation up to $ 5 million in the crypto investment company off the Capital channel, where he is a limited partner. The chain’s investments include private actions in large crypto companies such as Digital Currency Group (DCG) and Kraken, as well as the Mont Gox bankruptcy.
In a Tuesday deposit with the government’s ethics office, Atkins is committed to living in the chain capital within 120 days of its confirmation. He also resigned from his position to the board of directors of the Digital Chamber of Commerce and the token alliance of the Digital Chamber of Commerce according to the same file.
The Atkins crypto bonds contrast to its predecessor, the former president of the SEC, Gary Gensler, who was known for his so-called “application” approach “of cryptographic regulations. Before the confirmation of Atkins, the current leadership of the SEC, led by the acting president, Mark Uyeda and the Commissioner Hester Peirce, revised the regulatory strategy of the agency’s crypto, inviting the actors of the industry to round discussions at the end of the dry in Washington, and the abolition of a considerable number of inquests and Crypto societies.
However, everyone who has followed under peopleler is out of the crochet – the agency has not yet closed its probes in Unicoin or Crypto.com, both of which received opinions from Wells (one head of upcoming application) from the dry last year.
The SEC has closed investigations into companies and immutable, Opensea and Yuga Labs, and ended disputes against companies like Coinbase, Kraken and Ripple since Uyeda took over the agency as an acting president.
