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What to expect at Paul Atkins’ SEC confirmation hearing

Former US Securities and Exchange Commission (SEC) member Paul Atkins is scheduled to appear before lawmakers in the Senate Banking Committee on March 27 as part of the Trump administration’s efforts to get the president’s picks into high-level government positions.

Since US President Donald Trump took office on Jan. 20, the SEC, under the leadership of acting chair Mark Uyeda, has dropped several investigations and enforcement actions against major crypto firms, many of which had been in court for months or years. Many analysts see the SEC’s recent actions as the administration acting on its campaign promises to the crypto industry, of which some figures donated directly to the then-presidential candidate or his inauguration fund after the Nov. 5 election.

The commission’s actions — which include declaring that memecoins aren’t securities —  also stand in stark contrast to its position under former chair Gary Gensler, leading many to speculate that the SEC under Trump will lead to a booming US crypto industry essentially free of regulatory scrutiny.

Atkins, whom Trump picked in December 2024 and officially nominated after taking office, received support from industry players at Coinbase and Ripple, both of which had ongoing enforcement actions brought by the SEC. The cases have since been dropped.

Given the SEC’s seeming about-face on crypto enforcement and Trump’s potential conflicts of interest with the industry — with ties to the crypto firm World Liberty Financial and the launch of his own memecoin — some lawmakers are likely to question Atkins’ views on digital assets at the confirmation hearing.

If confirmed by the Senate, Atkins could return to a soon-to-be entirely Republican-controlled SEC, with Democratic Commissioner Caroline Crenshaw expected to leave by 2026.

It’s unclear if Atkins will have the votes to pass a confirmation hearing in the banking committee or a full floor vote in the Senate. Republicans hold a 53-seat majority in the chamber with only 51 votes required to confirm a nominee, and — with the exception of former Representative Matt Gaetz for US Attorney General — have not suggested that they intend to oppose any of Trump’s picks for crucial government positions.

Democratic opposition to Atkins’ nomination

Massachusetts Senator Elizabeth Warren, the top Democrat on the banking committee who has often equated crypto with drug trafficking and other illicit actions, said in a March 23 letter to Atkins that she had concerns about his potential role at the SEC after his consulting firm, Patomak Global Partners, was an adviser to defunct crypto exchange FTX. He was also an adviser to the advocacy group Chamber of Digital Commerce. 

“Your deep involvement with FTX and other high-paying crypto clients raises questions about your approach to crypto regulation — and concerns about the extent of your knowledge of FTX’s illegal activities,” said Warren, adding:

“Your financial ties to the industries you will soon regulate raise serious concerns about your ability to avoid conflicts of interest as a regulator.”

Warren suggested that some members of the Senate would likely question Trump’s pick about the SEC recently dropping enforcement cases against crypto firms, reports that Trump’s family had held talks with Binance about acquiring a stake in the company as well as a possible pardon for former Binance CEO Changpeng Zhao, how Atkins intends to apply securities laws to digital assets if confirmed, and the commission’s recent opinion that memecoins were not securities.

She hinted that Atkins may have also communicated with Republican SEC commissioners Uyeda and Hester Peirce after being nominated.

Related: SEC is waiting for a chair before setting crypto agenda — Hester Peirce

Ahead of his hearing, Atkins has already met with Republican lawmakers on the committee, including Wyoming Senator Cynthia Lummis. Cointelegraph contacted Lummis’ office for comment on Atkins’ nomination but hadn’t received a response at the time of publication.

If his nomination moves through the Banking Committee and the Senate, Atkins would likely be confirmed to a term ending in June 2031, taking over as chair from Uyeda. In addition to the commission dropping investigations and enforcement actions, the SEC acting chair has proposed abandoning rules requiring crypto firms to register with the agency.

Magazine: Ripple says SEC lawsuit ‘over,’ Trump at DAS, and more: Hodler’s Digest, March 16 – 22

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Starmer ‘playing whack-a-mole’ to keep US on side – but will it be enough?

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Starmer 'playing whack-a-mole' to keep US on side - but will it be enough?

Keir Starmer flies out of South Africa this evening with two massive issues on his agenda – a potentially manifesto-busting budget and, as it stands, an unacceptable Ukrainian peace deal.

As he prepared to depart for London, the prime minister confirmed he was dispatching national security adviser Jonathan Powell to Geneva for talks with US officials, other European security advisers and Ukrainian representatives – as Europe and Ukraine scramble to reinsert themselves into a plan drawn up between Washington and Moscow.

The prime minister said on Saturday there was “more to do on the plan” in the coming days and the focus now was to try to make progress in Geneva.

Follow the latest: European leaders raise concerns over plan for Ukraine

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PM: ‘More to do’ on US Ukraine peace plan

After speaking on the phone to Donald Trump, Downing Street said the pair agreed their teams would work together on the US leader’s proposal in the Swiss city on Sunday.

Starmer also reiterated Britain’s “steadfast support for Ukraine” in a call with President Zelenskyy – as allies try to swing this deal more in Ukraine‘s favour, with the UK and other international leaders clear on their concerns to limit the size of the Ukrainian army and give up territory to Russia.

But in his remarks on camera, the prime minister was at pains to neither criticise the current deal nor President Trump.

One figure told me that the PM wants to act as a bridge between the Europeans and the US and has been playing a “game of whack-a-mole” over the past couple of days in an effort to keep others from publicly saying the deal is unacceptable for fear it would only serve to irritate President Trump and hurt Ukraine.

File pic: Reuters
Image:
File pic: Reuters

Earlier, the prime minister said he would talk to his US counterpart in the coming days.

“I’m absolutely clear in my mind that President Trump wants a just and lasting peace, not just from the actions he’s taken towards that end, but also from the private discussions that I’ve had with him,” Mr Starmer said.

“So I know what he’s trying to achieve. We all want to achieve that.”

But there will be a question about what the alternative options are if allies cannot improve this deal by President Trump’s Thursday deadline.

The frontline in eastern Ukraine
Image:
The frontline in eastern Ukraine

The first option is to try to improve it and also slow down the process and buy more time, but if that fails, are allies looking at scenarios where they try to shore up Ukraine’s war efforts without the US support?

The prime minister responded by talking about point five in the 28-point plan, in which Ukraine is offered security guarantees from the US.

Read more:
Trump’s 28-point Ukraine peace plan in full
Analysis: We could all pay if Europe doesn’t step up
Starmer addresses G20 summit – but Trump boycotts talks

“That fortifies in me the belief that what we’re all trying to achieve here is a just and lasting peace will only be just as lasting if there are security guarantees,” Mr Starmer said.

“And if we bear in mind that matters for Ukraine are always to be determined by Ukraine.”

The next 24 hours will be critical as the Europeans, Ukraine and other allies try to improve this deal.

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Starmer refuses to rule out manifesto-breaking tax rises in budget

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Starmer refuses to rule out manifesto-breaking tax rises in budget

The prime minister has refused to rule out manifesto-breaking tax hikes in next week’s budget while speaking to Sky News political editor Beth Rigby.

Sir Keir Starmer was interviewed by Rigby while the pair were in South Africa for a meeting of the G20 group of nations.

Despite the government last year indicating it was not going to raise more taxes, it appears that Wednesday’s fiscal event will involve substantial increases in levies.

The 2024 Labour manifesto said: “We will ensure taxes on working people are kept as low as possible.

“Labour will not increase taxes on working people, which is why we will not increase national insurance, the basic, higher, or additional rates of income tax, or VAT.”

At the start of their interview, the prime minister was asked by Rigby if it was important for politicians to “stick to their word”.

Sir Keir said: “Yes, it is important that politicians stick to their word.

More on Budget 2025

“They have to make decisions against a political backdrop. And, we’ve also got big decisions to make in the budget that’s coming in just a few days time.”

This caveat matches the expectations that a range of taxes are going to be increased so the government can keep its spending pledges and increase its fiscal headroom amid worsening economic headwinds.

There was chaos last week after the increase in income tax that many had expected to be on the way was revealed to no longer be on the cards.

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Why has chancellor U-turned on income tax rises?

Asked specifically on the manifesto commitment on tax, Sir Keir told Rigby that decisions will be made “against a very difficult backdrop”.

In total, the prime minister refused 12 times to rule out tax rises.

He added it was “important to take the right decisions for our country”.

Rigby pointed out in the lead-up to the 2024 Budget, the prime minister was more unequivocal, saying income tax, national insurance and VAT would not all go up.

The prime minister declined to make the same promise, saying the decisions on tax will be announced on Wednesday.

Read more:
Did Reeves pull of something extraordinary?
Government borrowing higher than expected
Will energy bills be made cheaper?

However, Sir Keir said the budget will be guided by “principles”, including “fairness”.

The prime minister said the three areas he is “bearing down on” are the NHS, cutting national debt and dealing with the cost of living crisis.

One tax rise that has not been ruled out is what is known as a “stealth tax rise” of freezing income tax thresholds.

Rigby highlighted that in last year’s budget, Rachel Reeves said freezing thresholds will “hurt working people” – and asked the prime minister if he agreed.

👉 Click here to listen to Electoral Dysfunction on your podcast app 👈

Sir Keir said: “We are going to set out our decisions.

“We will have absolutely in mind that the cost of living is the number one issue for people across the country.”

Pushed again, if working people will have their taxes increased, the prime minister instead mentioned he has people who are “struggling with the cost of living” in mind when making decisions.

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Ex-Coinbase lawyer announces run for New York Attorney General, citing crypto policy

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Ex-Coinbase lawyer announces run for New York Attorney General, citing crypto policy

Khurram Dara, a former policy lawyer at cryptocurrency exchange Coinbase, officially launched his campaign for New York State Attorney General.

In a Friday notice, Dara cited his “regulatory and policy experience, particularly in the crypto and fintech space” among his reasons to try to unseat Attorney General Letitia James in 2026.

The former Coinbase lawyer had been hinting since August at potential plans to run for office, claiming that James had engaged in “lawfare” against the crypto industry in New York.

Law, Politics, New York, Elections
Source: Khurram Dara

Until July, Dara was the regulatory and policy principal at Bain Capital Crypto, the digital asset arm of the investment company. According to his LinkedIn profile, he worked as Coinbase’s policy counsel from June 2022 to January 2023 and was previously employed at the crypto companies Fluidity and Airswap.

James, who took office in 2019, has faced criticism from many in the crypto industry for filing lawsuits against companies on behalf of affected New Yorkers, including Genesis, KuCoin and NovaTech. Whoever assumes the role of New York’s attorney general would have significant discretion over whether to file charges against crypto companies.

Related: New York AG urges Congress to bolster protections in crypto bills

Dara, who said he plans to run as a Republican, also echoed Mayor-elect Zohran Mamdani’s recent winning campaign, citing New Yorkers’ concerns about the cost of living and affordability. Cointelegraph reached out to Dara for comment, but had not received a response at the time of publication.

The lawyer who represented XRP holders is also running for office again

As the deadline approached for candidates for various offices to announce their runs, former Massachusetts senatorial candidate John Deaton said he would try to unseat a Democrat again. 

Deaton ran against Senator Elizabeth Warren in 2024, losing by about 700,000 votes. On Nov. 10, however, he announced he would run as a Republican again, attempting to unseat Senator Ed Markey in 2026.