U.S. SEC nominee Paul Atkins: Current regulation is too complex, and how to regulate the cryptocurrency industry is the top priority

ChainCatcher news, Paul Atkins, the SEC chairman nominated by Trump, will attend the confirmation hearing of the Senate Banking, Housing, and Urban Affairs Committee on Thursday morning local time.

In his prepared remarks, Paul Atkins stated: "The current regulatory environment of the U.S. financial system hinders investment and often punishes the successful. Unclear, overly complex, and cumbersome regulations are stifling capital formation, while American investors are overwhelmed by a flood of disclosure information that does not help them understand the true risks of their investments. It is time to reset priorities and restore common sense to the SEC."

Additionally, Paul Atkins is expected to discuss how to regulate the cryptocurrency industry, stating that this will be a top priority in his role as SEC chairman.