Seeds of Wisdom RV and Economic Updates Tuesday Morning 3-18-25
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WILL PAUL ATKINS LEAD THE SEC? SENATE PREPS FOR HIGH-STAKES CONFIRMATION HEARING
▪️Paul Atkins' SEC confirmation faces delays due to financial disclosure issues linked to family.
▪️Senate Banking Chair Tim Scott schedules March 27 hearing to review Atkins’ nomination process.
▪️If confirmed, Atkins may take a crypto-friendly approach, unlike former SEC Chair Gensler.
Paul Atkins, President Donald Trump’s pick for U.S. Securities and Exchange Commission (SEC) chair, is finally moving closer to confirmation after months of delays. The Senate has now set a crucial hearing for March 27 – one that could determine the future of financial and crypto regulations in the U.S.
His nomination hasn’t been smooth sailing. But with momentum building, is he about to take the top job at the SEC? Here’s what you need to know.
Delays and Challenges in Atkins’ Confirmation
Atkins was nominated on December 4, but his confirmation has been delayed due to financial disclosure concerns. The Senate is closely reviewing his financial ties, particularly those linked to his wife’s billionaire family.
His wife’s family is associated with TAMKO Building Products LLC, a major roofing company that generated $1.2 billion in revenue in 2023. Because of these connections, Atkins’ financial holdings are complex and require careful scrutiny before he can be confirmed.
Senate Banking Committee Takes Action
Despite these challenges, Atkins is still expected to secure the position. Senate Banking Chair Tim Scott has scheduled a committee hearing on March 27 to move his nomination forward. Ahead of this, the Senate Banking Committee will hold a bipartisan meeting this Friday to discuss his potential role.
What This Means for Crypto Regulation
If confirmed, Atkins could bring a different approach to crypto regulation. Unlike former SEC Chair Gary Gensler, who was tough on the industry, Atkins is seen as more open to working with crypto firms.
With past experience as an SEC commissioner from 2002 to 2008 and a background as a corporate lawyer, Atkins is known for favoring clearer and fairer financial regulations. Many in the crypto industry hope his leadership will offer more stability and transparency.
Confirmation Process Finally Moving Forward
Atkins has been waiting nearly four months since his nomination—delays that are not unusual for SEC appointments. Both Gary Gensler and Jay Clayton also faced long waits before officially taking office.
If confirmed, Atkins could bring a fresh perspective to the SEC—one that could shake up crypto rules and financial oversight. Either way, all eyes are on March 27.
@ Newshounds News™
Source: Coinpedia
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SWISS CANTONAL BANK STARTS OFFERING CARDANO AND AVALANCHE TO MEET INCREASED DEMAND
Swiss bank Zuger Kantonalbank has added Cardano and Avalanche to its cryptocurrency offering through a partnership with crypto-focused bank Sygnum.
Zuger Kantonalbank, a Swiss universal bank, has expanded its cryptocurrency offerings to include Cardano Avalanche through a partnership with crypto-focused Swiss bank Sygnum.
In a blog announcement on March 17, Sygnum said the expansion was driven by “increased customer demand” amid what it described as growing regulatory clarity in the U.S. and E.U., as well as the establishment of a U.S. Strategic Bitcoin Reserve.
The bank’s fiat-to-crypto transactions are facilitated through Sygnum’s gateway, while Zuger Kantonalbank customers can access the service via e-banking and its mobile app.
Jan Damrau, head of corporate management and member of the Zuger Kantonalbank executive board, says the addition of ADA and AVAX enables the bank’s clients to “further develop their crypto portfolios conveniently with their principal bank – at a time when digital assets are approaching a global inflection point in terms of adoption.”
“The latest expansion of Zuger Kantonalbank’s token universe illustrates the strong demand for additional tokens with diverse use-cases to complement major protocols like Bitcoin and Ethereum.” Fritz Jost, Sygnum Bank chief B2B officer.
In early January, Sygnum raised $58 million in its Strategic Growth Round, pushing its value to over $1 billion and making it a “unicorn.” The funding round was oversubscribed, with Fulgur Ventures, a Bitcoin-focused venture capital firm, as the cornerstone investor. New and existing investors, along with Sygnum team members, also participated in the funding.
@ Newshounds News™
Source: Crypto News
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