Paul Atkins has been nominated as the new chairman of the U.S. Securities and Exchange Commission (SEC). Industry insiders suggest that Atkins may support Republican commissioners Hester Peirce, known as 'Crypto Mom,' and Mark Uyeda in leading the development of cryptocurrency policies. Peirce has expressed a desire to form an internal cryptocurrency task force to reassess the SEC's approach to regulating digital assets and engage in dialogue with the industry.

Her current term is set to end in June 2024, and it remains uncertain whether she will seek reappointment. Meanwhile, Uyeda's term will continue until 2028..