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.
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JD Vance is less liked among the UK public than Donald Trump, Sir Keir Starmer or any other major UK politician, a new poll shared with Sky News has found.
Just 14% of the British public have a favourable view of the US vice president, compared with 21% for Mr Trump and 29% for the prime minister and Reform UK leader Nigel Farage.
Ipsos questioned 1,132 adults aged 18 and over across Great Britain online between the 14 and 17 March – just weeks after the heated exchange between Mr Vance, Mr Trump and Volodymyr Zelenskyy in the White House over military assistance to Ukraine.
Politics latest: Farage brands protester ‘a saddo’
The poll was carried out before a conversation on the messaging app Signal – between US officials, including the vice president – was accidentally leaked to an American journalist, who was added to the encrypted chat in error.
In the conversation, Mr Vance and other officials – including National Security Adviser Michael Waltz, Secretary of State Marco Rubio and US Defence Secretary Pete Hegseth – discussed plans to conduct airstrikes on Yemen’s Iran-backed Houthis, which took place on 15 March.
During the discussion, Mr Vance questioned the rationale behind the military action, arguing that attacking the Houthis would largely serve European interests, with the continent benefiting from US protection of shipping lanes in the Red Sea that are a frequent target for attacks
US security breach latest: Trump dismisses war plan ‘glitch’
In a message addressed to Mr Hegseth, Mr Vance said: “If you think we should do it let’s go. I just hate bailing Europe out again.”
Mr Hegseth, who had made the case for military action against the Houthis, replied: “I fully share your loathing of European free-loading. PATHETIC.”
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‘I know nothing’ about leak of military plans
Keiran Pedley, Ipsos director of politics, told Sky News: “It is clear from these numbers that Vance is unpopular with the British public.
“A majority hold an unfavourable view of the vice president, including clear majorities of Conservative, Labour and Lib Dem voters. Reform UK supporters are more split, with slightly more holding an unfavourable view than a favourable one.”
The leak of the messages to Jeffrey Goldberg, The Atlantic’s editor in chief, has raised concerns about US national security and the Trump’s administration’s attitude towards Europe as it seeks to reach a peace deal between Russia and Ukraine to end the war.
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Leaked security chat explained
President Trump has dismissed the significance of the accidental leaking of US military intelligence to Mr Goldberg, telling Garrett Haake, a reporter from Sky News’ US partner network NBC, that the journalist was “a sleazeball” and that his presence on the Signal chain had “no impact at all”.
Asked how he came to be added to the chat, Mr Trump said it was one of Mr Waltz’s staffers who “had his number on there”.
Asked if he still had confidence in Waltz, Trump said he did: “Michael Waltz has learned a lesson, and he’s a good man.”
Read more:
Trump officials discussing war plans lambasted as ‘amateur hour’
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The US president also expressed confidence in his team and supported comments by his defence secretary that the story was a non-issue, arguing it was “the only glitch in two months, and it turned out not to be a serious one”.
Downing Street has also insisted it is confident any UK intelligence shared with the US was being handled appropriately.
The prime minister’s official spokesman said: “The US is our closest ally when it comes to matters of defence, we have a long-standing relationship on intelligence and defence cooperation.
“We will continue to build on the very strong relationship we already have with the US on defence and security matters.”
Cboe BZX Exchange, a US securities exchange, has requested permission to list a proposed Fidelity exchange-traded fund (ETF) holding Solana (SOL), according to March 25 filings.
The request now sits with the US Securities and Exchange Commission, which must approve the filing before trading of the Fidelity Solana Fund can commence on the exchange.
This is the latest in a spate of filings with the federal agency by exchanges and fund sponsors seeking to launch ETFs holding SOL and other cryptocurrencies.
On March 12, Cboe filed to list another spot SOL ETF sponsored by asset manager Franklin Templeton.
Related: Solana CME futures tip impending US ETF approvals — Exec
Numerous filings
Cboe’s filing comes after asset manager Volatility Shares launched an ETF using financial derivatives known as futures to track the performance of spot SOL.
Launched in March, Volatility Shares Solana ETF (SOLZ) and the Volatility Shares 2X Solana ETF (SOLT) are the first ETFs providing US investors with exposure to Solana’s native token. The SOLT ETF tracks SOL’s performance with 2x leverage.
Analysts at Bloomberg Intelligence peg the odds at 70% that US regulators approve a spot SOL ETF this year, according to a February post on the X platform.
Other asset managers seeking to list spot SOL ETFs include Grayscale, VanEck, 21Shares, Canary and Bitwise, according to Bloomberg Intelligence.
On March 17, the Chicago Mercantile Exchange (CME), the US’s largest derivatives exchange, launched SOL futures contracts. Experts say this is further indication that spot SOL ETFs will soon be approved in the US.
Roughly a dozen asset managers are seeking the SEC’s approval to launch altcoin ETFs in the US. The proposed ETFs for altcoins range from Litecoin (LTC) and XRP (XRP) to Dogecoin (DOGE) and Official Trump (TRUMP).
Issuers are also asking for the SEC to approve changes to existing ETFs, including allowances for staking, options and in-kind redemptions.
The SEC eased its stance on cryptocurrency after US President Donald Trump began his second term in January.
Under former President Joe Biden, the SEC brought upwards of 100 lawsuits against crypto firms, alleging various securities law violations. In 2024, the regulator greenlighted spot Bitcoin (BTC) and Ether (ETH) ETFs but stymied proposed ETFs tied to other cryptocurrencies.
Magazine: Memecoins are ded — But Solana ‘100x better’ despite revenue plunge
Brazil’s data protection agency has upheld its decision to restrict cryptocurrency compensation tied to the World ID project, citing user privacy concerns.
The National Data Protection Authority (ANDP) rejected a petition by World ID developer Tools For Humanity to review its ban on offering financial compensation to users who provide biometric data through iris scans, the agency said in a March 25 announcement.
ANDP will “maintain the suspension of the granting of financial compensation, in the form of cryptocurrency (Worldcoin – WLD) or in any other format, for any World ID created by collecting iris scans of personal data subjects in Brazil,” a translated version of the announcement reads.
The company faces a daily fine of 50,000 Brazilian reais ($8,800) if it resumes data collection activities.
Cointelegraph reached out to Tools for Humanity but had not received a response at the time of publication.
World ID verification in Brazil was short-lived, with the ANDP banning data collection more than two months after it was launched in the country. Source: Worldcoin
ANDP’s investigation into World, formerly known as Worldcoin, began in November of last year amid concerns that financial rewards could compromise users’ ability to consent to offering sensitive biometric data.
The controversial “World ID” is created when users agree to iris scans, which generates a unique digital passport that can authenticate humans online.
As Cointelegraph reported, Tools For Humanity was ordered to stop offering services to Brazilians as of Jan. 25.
Related: Blockchain identity platform Humanity Protocol valued at $1.1B after fundraise
Race for digital identity solution heats up
Although World ID has run afoul of Brazilian law, the use of digital identification methods is growing in other markets due to the rise of AI deepfakes and Sybil attacks.
The rise of bots and AI is also watering down online discourse on social media platforms such as X and Facebook. As Cointelegraph reported, up to 15% of X accounts are believed to be bots.
Research from blockchain analytics firm Chainalysis also showed that generative AI is making crypto scams more profitable by enabling the creation of fake identities.
Some companies are attempting to create digital identity solutions without triggering privacy concerns and regulatory crackdowns. Earlier this year, Billions Network launched its own digital identity platform that doesn’t require biometric data.
The platform is based on a zero-knowledge verification technology known as Circom and has already been tested by major financial institutions such as HSBC and Deutsche Bank.
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