US Senator Criticizes SEC Chair Nominee Paul Atkins for 'Misjudging Almost Every Decision in the Past'
Summary
- Senator Elizabeth Warren criticized Paul Atkins' nomination as SEC Chair, citing his past misjudgments during financial crises.
- Paul Atkins' support for easing control over major investment banks and his holdings in virtual assets raise questions about his regulatory approach.
- Elizabeth Warren criticized Paul Atkins for potential conflicts of interest due to his involvement with FTX and high-net-worth cryptocurrency investors.
US Senator Elizabeth Warren, known as an opponent of virtual assets (cryptocurrency), attended the hearing for Paul Atkins, the nominee for the next Chairman of the Securities and Exchange Commission (SEC), and pointed out that 'he misjudged almost every decision before the greatest financial crisis since the Great Depression.'
According to the virtual asset specialized media U.Today on the 27th (local time), Elizabeth Warren explained, 'During his tenure as an SEC commissioner, Paul Atkins voted to ease controls on major investment banks such as Lehman Brothers and Bear Stearns before the Global Financial Crisis (GFC).'
She further criticized, 'His financial conflicts of interest are breathtakingly strong.'
Previously, Paul Atkins had disclosed that he holds virtual asset-related assets worth $6 million.
In response, Elizabeth Warren had criticized through a letter, 'I question his approach to cryptocurrency regulation, given his deep involvement with FTX and high-net-worth cryptocurrency investors.'
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
