Trump’s Picks for SEC Chair, OCC Head Move Forward as Crypto Policy Talks Begin Soon

Trump’s Picks for SEC Chair & OCC Head Move Forward, Crypto Roundtables Begin Soon

The U.S. Senate Banking Committee has voted to move forward with President Donald Trump’s nominees for two top financial positions. In a close 13-11 party-line vote, the committee approved Paul Atkins to lead the Securities and Exchange Commission (SEC) and Jonathan Gould to become the Comptroller of the Currency.

With the committee’s approval, both nominations now go to the full Senate for a final vote. If confirmed, Atkins and Gould will officially take charge of two powerful financial regulatory agencies.

With sharp divides and big names in the mix, the road ahead is anything but smooth.

Senator Tim Scott Praises Atkins and Gould

Senator Tim Scott, who chairs the Banking Committee, praised both nominees, highlighting their experience in the financial world. He said their leadership would help keep financial rules focused on supporting the economy – without getting caught up in political battles.

“Paul Atkins, the former SEC commissioner, will promote capital formation and provide much-needed clarity for digital assets,” Scott said. And of Gould, he noted that the nominee, once chief counsel at the OCC, will “put an end to the politically-motivated debanking” which many in the industry view as a growing problem.

Too Friendly to Wall Street?

Democrats on the committee strongly opposed the nominations. Senator Elizabeth Warren, the top Democrat on the panel, voted against both, saying the nominees are too focused on rolling back regulations in favor of big banks.

“I won’t support these nominees while Trump and Musk are actively trying to destroy these agencies,” Warren said, referring to recent layoffs in government and efforts by Trump and billionaire Elon Musk to shut down federal agencies.

Warren also criticized Atkins for his role at the SEC leading up to the 2008 financial crisis. She said Gould had weakened banking regulations during his time at the OCC, which she believes made the financial system more risky.

Treasury and Transit Picks Move Forward

Alongside the high-profile nominations, the committee also approved two other appointments. Luke Pettit, a former Senate staffer, was confirmed as Assistant Secretary of the U.S. Treasury. Marcus Molinaro was approved as the new Federal Transit Administrator.

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SEC Pushes Ahead with Crypto Roundtables

Meanwhile, the SEC is stepping up efforts to bring clearer rules to the fast-growing crypto industry. It’s hosting a series of public roundtable events from April through June to gather input from experts and the public.

The next session, titled “Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading,” will take place on April 11. Upcoming events in the series include:

• April 25 – Crypto Custody
• May 12 – Tokenization
• June 6 – Decentralized Finance (DeFi)

All events will be held in Washington, D.C., and livestreamed for public access as the SEC works to develop clearer guidelines for digital assets.