American Senator Elizabeth Warren sent a letter to the Chairman of the Securities and Stock Exchange Committee (SEC) Paul Atkins, who doubts his call to the lower stricter encryption regulations and conflicts of potential interests. The investigation is preceded by the hearing of the next banking committee in the Senate.
Elizabeth Warren presses Paul Atkins on encryption regulations
On Monday, Democratic Senator Elizabeth Warren, a member of the Senate Committee in the Senate, revealed that she sent a 34 -page letter to President Trump’s Board of Directors, Paul Atkins.
In the letter, the encrypted critical legislator expressed concern about his potential approach to encryption, taking into account that “the decisions they make as a president will have significant effects on the long -term health of American trade and economic growth.”
Warren's letter to Trump's SEC Chairman pick. Source: Senate Banking Committee
Senator Warren highlighted the SEC’s wide candidate experience in financial services and capital markets, but he noticed concerns about Atkins’s record as organizer and a major consultant role in “historical failures of the financial system”.
Atkins as the Securities and Stock Exchange Commissioner during the 2008 financial crisis and its consultative role in the encryption platform that was now equipped in 2022 as major reasons for questioning its rule and “the ability to work as an effective SEC” chair if confirmed.
In addition to providing advice to a number of encryption companies and councils, you have worked as a consultant to the Digital Trade Chamber since 2020 and FTX for a period of 10 months before the collapse in November 2022. Your deep participation with FTX from your illegal activities.
Democratic Senator also sees Atkins’s call for the “weakest” SEC rules. As a result, I asked the SEC president’s candidate about many industry issues, including his view of SEC’s role in organizing the Crypto Spot market, and how the Howwey test applies to the symbols, and the last semester of many encrypted invitees, including Coinbase, Kaken, Ripple, Robinhood, Gemini and Yuga Labs.
Trump administration capabilities “conflict of interests”
Regarding the potential inconsistency of interests, Warren asked whether Akinz was consulted by Acting President Mark Oida or any other employees of the Securities and Stock Exchange Commission regarding the committee’s request to reside in the Binance case and the state of the founder of Tron Justin Sun.
You also have a major conflict of interests through your work on behalf of the companies’ interests – a long record of calling for the weakest protection of investors and the weakest rules to prevent violations by giant companies.
Senator noticed the rumors of the alleged talks between the Trump family and the arm of the United States of America to obtain a stake in the company, which, as mentioned by the Bittin, was denied by the two parties.
In addition, I asked about the conflict of potential interests related to Trump encryption projects, such as Trump Mimikoen and World Liberty Financial (WLFI).
Sen. Warren questions potential conflict of interests. Source: Senate Banking Committee
Earlier this month, Warren sent a similar message to the White House encryption, AI CZAR, David Sacks, to request immediate clarifications on many issues, including the SACK’s timetable for his digital possessions.
According to the message on Sunday, Atkins must be ready to answer these questions during the banking committee hearing, scheduled for March 27, as “answers to the questions mentioned in this letter and your testimony before the Senate about banking services, housing and housing, and the Urban Affairs Committee will be very important to assess how you plan to lead the Supreme Education Council.”
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