April 21 became a memorable milestone for the global crypto industry, as Paul Atkins officially took office as the Chair of the U.S. Securities and Exchange Commission (SEC) – marking a comprehensive change in the approach of this powerful agency towards digital assets. This move is expected to usher in a new era, where laws are clearer and the space for innovation is protected rather than stifled as before.
🧑⚖️ New SEC Chair: A person with an open mind towards crypto
The former advisor to the Reserve Protocol in 2019 has just been appointed by President Donald Trump as SEC Chair, and has been confirmed by the Senate with a vote of 52 in favor – 44 against. He will officially replace Mark Uyeda, who has held the position of Acting Chair since Gary Gensler left office in January this year.
In his speech after the inauguration, Mr. Atkins affirmed:
"I am very honored by the trust that President Trump and the Senate have placed in me to lead the SEC."
Immediately after Mr. Trump returned to the White House, the SEC quickly established a dedicated team for crypto, aiming to reshape the regulatory perspective towards this industry. This is a clear sign of a shift in the U.S. government's mindset towards blockchain and digital assets.
⚖️ Major lawsuits under Gensler: Are they coming to an end?
Under the tenure of former Chair Gary Gensler, the SEC was heavily criticized for its strict, even 'harsh' attitude towards crypto projects. Many giants like Coinbase, Binance, Ripple, Kraken, Consensys, Gemini, Uniswap, and Robinhood have faced lawsuits or investigations by the SEC for allegedly selling unregistered securities.
However, since Mr. Atkins was nominated, many lawsuits have shown more positive developments for crypto companies – some cases were dismissed, while others were temporarily halted. This demonstrates a clear shift in policy.
During a Senate hearing in March, Mr. Atkins stated that he would establish a 'reasonable, coherent, and principled' legal framework for the digital asset industry. He also emphasized the goal of making the U.S. 'the most ideal and safest place in the world to invest and do business,' while still ensuring investor protection – a message that garnered high consensus from both parties.
📈 RSR skyrockets: Investors react positively
Immediately following the news of Paul Atkins' appointment and Coinbase's announcement of token listing, the value of this token surged nearly 14%, reaching $0.00835 – the highest in nearly two months.
Previously, many investors speculated about Mr. Atkins' new role and gradually pushed the price of RSR up, with a recorded level of $0.0081 just before the official news was announced.
Although he is no longer an advisor to the Reserve Protocol project, past connections still made the market 'shake.' This reaction indicates that investor sentiment is becoming increasingly positive as they see crypto-friendly individuals holding key positions in the regulatory framework.
📊 70+ crypto ETF applications awaiting approval: Is the market preparing to 'explode'?
Another positive signal is that the SEC is currently processing over 70 crypto-related ETF applications – according to data from Bloomberg. The products range from popular names like Solana, XRP, Litecoin, to even 'quirky' proposals like 2x Melania or Pudgy Penguins (PENGU).
Expert James Seyffart refers to this as the 'spaghetti cannon' strategy – where issuers submit numerous proposals at once to see which one gets approved first. This indicates a shift in market sentiment: from skepticism and fear to expecting a more open and clearly regulated future.
The SEC under Mr. Atkins being open to financial products related to crypto not only helps unlock significant capital from institutional investors but also creates a historic turning point in the legalization of digital assets in the U.S. – the largest financial market in the world.
🌍 Connect with the crypto market and Binance users
Mr. Atkins – a crypto-friendly figure – leading the SEC could bring immense opportunities for the entire market. Especially for users on Binance, this opens up the possibility that complex crypto products like ETFs, investment funds, and tokenization of real assets will find it easier to be recognized and traded legally in the U.S. Legal barriers that have previously caused concern for users and developers may gradually be removed.
With over 70 ETF applications pending approval, if the SEC continues to pave the way, the market could witness a substantial flow of capital from traditional investors – and that is a significant door that Binance users can leverage to access new, legal, and more transparent assets than ever before.
📌 Conclusion
The official appointment of Paul Atkins as SEC Chair is not just a personnel change – it represents a comprehensive shift in how the U.S. views and regulates crypto. With a clear legal framework gradually forming, the investing community has reasons to expect a future with less risk and more opportunities for digital assets – especially in important markets like the U.S.
⚠️ Risk warning: Investing in the crypto market always comes with a high degree of risk and is not suitable for everyone. This article does not constitute investment advice. Users need to conduct thorough research before making any financial decisions.