Ron Hammond of the Blockchain Association shared some thoughts on the future of the SEC under Paul Atkins. In an interview with Thinking Crypto’s Tony Edwards, when asked whether the SEC would drop some non-fraud cases, such as the ongoing Ripple lawsuit, Hammond expressed optimism.
He believes there could be a push to resolve cases like Ripple’s quickly, allowing the industry to move forward. However, he said it is still unclear exactly how Atkins will handle the current lawsuit. Still, there is hope that the new leadership will expedite settlements and resolve cases that have been pending in court for too long.
Clearer regulations in the future?
Hammond also said that while this is not guaranteed, there is hope for clearer regulations under Atkins’ leadership. The SEC could finally settle some of the high-profile cases and provide the much-needed regulatory clarity that the crypto industry has been waiting for. In addition to the SEC’s actions, legislation could also play a role in bringing clearer guidelines to the industry. However, this will take time and the outcome remains uncertain.
Paul Atkins: the next SEC chairman
Paul Atkins is expected to be confirmed as the next chairman of the SEC in late January. He is currently completing the paperwork, and hearings on his nomination will take place in the coming weeks. Hammond speculates that Atkins will likely appear before the Senate Banking Committee next week or the week after. A key topic during these hearings will be the stance of Senator Elizabeth Warren, a vocal critic of crypto. How much attention Warren pays to crypto during these hearings could influence the SEC’s approach to the sector in the years to come.
What’s next for the SEC?
Hammond believes Atkins is seen as a non-controversial choice, meaning his appointment will go smoothly. Once confirmed, Atkins will work with key SEC staffers such as Hester Peirce and Mark Uyeda, who have been calling for clearer regulations for years. With Atkins in place, the hope is that the SEC will finally provide much-needed clarity to the crypto industry and work with Congress to pass meaningful legislation.