US senator Elizabeth Warren sent a letter to Paul Atkins, President of the Securities and Stock Exchange Commission (SEC), a letter questioning the call for less solid crypto arrangements and potential conflict of interest. The investigation comes before the upcoming Senate Banking Committee hearing.
Elizabeth Warren prints Paul Atkins to crypto arrangements
On Monday, Democratic Senator Elizabeth Warren, a member of the Senate Banking Committee, announced that he sent a 34 -page letter to President Trump’s SEC President Paul Atkins.
In the letter, the crypto-critical deputy expressed his concern about his potential approach to regulating the crypto, considering that the decisions you make as a chair will have significant effects on long-term health and economic growth.
Warren's letter to Trump's SEC Chairman pick. Source: Senate Banking Committee
Senator Warren emphasized the comprehensive experience of the SEC candidate in financial services and capital markets, but he said, but Atkins’ concerns about the organizer and key consultancy role in the “historical failures of the financial system”.
During the 2008 financial crisis, Atkins summarized his position as the SEC commissioner and his consulting role on the current crypto platform, which was currently gathered in 2022, as the main reasons for questioning his decision and the ability to serve as an effective SEC chair ”.
In addition to consulting a series of crypto companies and committees, you have served as a consultant to the Digital Chamber of Commerce since 2020 and to FTX for 10 months, which led to its collapse in November 2022. Your deep participation with your FTX and other high -paid crypto customers raises questions about your FTX, the approach to Crypto regulation and concerns about illegal activities.
The Democratic Senator also deals with Atkins’s advocate for “weak” Secular rules. As a result, SEC asked the Candidate of the SEC’s role in the regulation of the crypto spot market, how the Howy test was applied to the tokens and the dismissal of various crypto cases, including Coinbase, Kren, Ripple, Robinhood, Gemini and Yuga Labs.
Potential ‘Conflicts of Interest’ of Trump Administration
Regarding the potential conflicts of interest, Warren questioned Atkins, Deputy Chairman of the Commission on the Stop of the Binance case and the pause of Tron Founding Justin Sun’s case, and consulted and consulted by consulting and consulting by another SEC personnel.
In addition, you have a long record for weaker rules to prevent important potential interest conflicts and weak protection for investors and giant companies to prevent wrong companies through working on behalf of corporate interests.
Senator, Trump family and the rumors of the allegations between Binance’s US branch, as Bitcoinist reported by both sides rejected by the company said to obtain a share in the company.
He also asked Trump’s potential conflicts of interest in crypto initiatives such as Trump Memecoin and World Liberty Financial (WLFI).
Sen. Warren questions potential conflict of interests. Source: Senate Banking Committee
At the beginning of this month, Warren sent a letter similar to the White House to the crypto and Ai Czar, and David Sacks demanded emergency explanations on various issues, including the timeline of Sack’s disposal of digital asset owners.
According to Sunday’s letter, Atkins should be preparing to answer these questions during the hearing of the Banking Committee planned on March 27.
Bitcoin (BTC) trades at $87,838 in the one-week chart. Source: BTCUSDT on TradingView
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