In an interview with Tony Edwards of Thinking Crypto, Ron Hammond of the Blockchain Association spoke about what could be in store for the SEC with Paul Atkins as chair.
When asked about the Ripple suit, Hammond said he is hopeful that with the SEC, cases like Ripple’s may get resolved quicker.
He stressed that the industry has to go forward and hoped new leadership would find quicker resolution to pending suits. But, he added it remains to be seen how Atkins will handle the existing legal actions.
Hammond also pointed out that the rules could become clearer with Atkins. While it is not certain, he noted that there is hope for the SEC to resolve big cases and give clear rules for the crypto industry.
“There’s hope that the new leadership will speed up settlements,” he said. Hammond added that laws could help create clearer guidelines, but he recognized that this would take time.
Paul Atkins will likely be confirmed as the new SEC chair by the end of January. He is presently completing the necessary paperwork, and hearings regarding his nomination will take place during the next few weeks. Hammond speculated that Atkins will probably appear before the Senate Banking Committee soon.
He sees Atkins as a safe pick, which should ease his confirmation. Atkins, upon his confirmation, will join key SEC officials such as Hester Peirce and Mark Uyeda. Both have been advocating for more explicit regulations in the crypto space for several years.
With Atkins as chair, it is hoped that the SEC will bring the clear rules that the industry has been asking for for quite some time. It is also hoped that the SEC will collaborate with Congress to establish vital laws pertaining to cryptocurrency.
