Paul Atkins, President Donald Trump’s Solana and Cardano, that it alleged had been unregistered securities. The SEC additionally focused celebrities like Kim Kardashian and Lindsay Lohan for selling tokens, amongst different people. The crypto trade fought again and argued that decades-old securities regulation didn’t apply to new know-how. Executives like Brian Armstrong, the CEO of Coinbase, argued that the federal government ought to draft laws to account for blockchains, fairly than crack down on the crypto sector.
Atkins was beforehand SEC chair from 2002 to 2008 underneath President George W. Bush. Most not too long ago, he served as CEO of his monetary providers consultancy Patomak International Companions. He is been supportive of the crypto trade’s requires regulation. “The collapse of FTX was this worldwide debacle as a result of I believe the U.S. didn’t make our guidelines accommodating to this new know-how,” he stated in a 2023 interview.
As a part of his ethics settlement, Atkins additionally agreed to step down from a place on Chamber of Digital Commerce’s Token Alliance, a coverage group that advocates for crypto corporations.
This story was initially featured on Fortune.com
