The U.S. Senate Banking Committee voted to advance Paul Atkins’ nomination to become a commissioner at the Securities and Exchange Commission (SEC). The committee vote, which occurred on April 3rd, ended in a 13-11 decision, paving the way for Atkins’ confirmation by the full Senate. If approved, Atkins will serve two terms as an SEC commissioner, filling the vacancy left by Gary Gensler’s departure. One term will overlap with Gensler’s time period, while the other runs until 2031. Senator Tim Scott, who leads the committee, praised Atkins’ leadership for offering much-needed clarity in regulating digital assets like cryptocurrency. He highlighted Atkins’ experience as crucial for the SEC role. Meanwhile, some Democrats opposed the nomination, with Senator Elizabeth Warren expressing concerns that Atkins’ policies would favor deregulation and potentially disrupt financial regulations. Warren also argued that the influence of figures like Donald Trump and Elon Musk was detrimental to government agencies, claiming they were actively harming these institutions.