Paul Atkins, President Donald Trump’s Solana and Cardano, that it alleged have been unregistered securities. The SEC additionally focused celebrities like Kim Kardashian and Lindsay Lohan for selling tokens, amongst different people. The crypto trade fought again and argued that decades-old securities legislation didn’t apply to new expertise. Executives like Brian Armstrong, the CEO of Coinbase, argued that the federal government ought to draft laws to account for blockchains, reasonably than crack down on the crypto sector.
Atkins was beforehand SEC chair from 2002 to 2008 beneath President George W. Bush. Most lately, he served as CEO of his monetary companies consultancy Patomak World Companions. He is been supportive of the crypto trade’s requires regulation. “The collapse of FTX was this international debacle because I think the U.S. didn’t make our rules accommodating to this new technology,” he mentioned in a 2023 interview.
As a part of his ethics settlement, Atkins additionally agreed to step down from a place on Chamber of Digital Commerce’s Token Alliance, a coverage group that advocates for crypto corporations.
This story was initially featured on Fortune.com
