The post XRP, ADA and Altcoins Rally As New SEC Chair Paul Atkins Promises ‘Principled Approach’ appeared first on Coinpedia Fintech News
The crypto community has long awaited a pro-crypto era in the U.S., hoping for clearer regulations and support for innovation. Half of that vision began to take shape when Trump took office, promising to make the U.S. the crypto capital of the world. Now, the other half is falling into place as Paul Atkins is officially sworn in as SEC Chair.
“The Perfect Person”
President Trump was beside the newly-sworn in SEC Chair as he took office and promised to make the SEC’s approach to regulating digital assets more sensible and fair. Trump introduced Atkins as the “perfect person” to lead the SEC, during the swearing-in ceremony. Trump was also hopeful that Atkins would put an end to the SEC’s misuse of power and unfair enforcement action under Biden’s administration.
He called ‘digital asset regulation’ to be a top priority of his and he would provide a solid regulatory foundation, as he resumes his role.
“A top priority in my chairmanship will be to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach,” he said.
He also ensured that he would make the US the most safest and supportive country in the world, to smoothly carry on crypto operations an activities and keep politics out of securities regulations.
Industry Experts’ Faith In Atkins
Several crypto advocates have voiced their support and belief in Atkins as the industry gears up for a major shift from an enforcement-focused approach to a regulatory clarity and guidance-driven framework.
“SEC Chairman Paul Atkins will be good for Bitcoin,” said Michael Saylor, the CEO of Strategy (formerly Microstrategy).
SteelWave Digital’s Founder, Mitchell DiRaimondo, summed it up perfectly saying “Atkins brings the clarity we need right now.” “Bitcoin finally has an ally in the SEC. Let the bull run begin,” commented the FIO Protocol.
The SEC has been making steady progress under Acting Chair Mark Uyeda. A Virtual Currency Task Force, led by Commissioner Hester Peirce, was created in January to reshape virtual currency regulation. It has already held two roundtables discussing key issues. The third meeting scheduled on April 25th, will focus on crypto custody.
Crypto Market Rallies
The crypto market surged on Thursday, with Bitcoin rising to $93,500, and major tokens like Cardano (ADA) and Ethereum (ETH) jumping over 14%. The rally was driven by a weaker US dollar, positive comments on US-China relations, and increased institutional demand. Other top performers included Solana (SOL), XRP, and BNB, while memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) saw gains over 11%, and Sui Network’s SUI surged 30%.