New SEC chair Paul Atkins begins term as 72 crypto ETFs await approval

  • Paul Atkins confirmed as SEC chair with 52-44 Senate vote.
  • Crypto firms donated over $85 million to Trump inauguration.
  • SEC’s new direction may favour altcoins and DeFi platforms.

The US Securities and Exchange Commission (SEC) has entered a new phase of crypto oversight with the appointment of Paul Atkins as its 34th chairman.

Nominated by President Donald Trump and confirmed by the Senate in a 52-44 vote earlier this month, Atkins is returning to the SEC with a clear message—making the US the most secure and attractive investment destination globally.

In his first public statement, he signalled that crypto regulation would be a central focus of his administration, marking a departure from former Chair Gary Gensler’s hawkish stance on altcoins.

Surge in crypto ETF filings under Atkins’ watch

Atkins’ arrival comes at a pivotal time for the crypto market. Since Gary Gensler’s resignation, the SEC has been flooded with a wave of crypto-related exchange-traded fund (ETF) filings.

According to data compiled by BeInCrypto, there are currently 72 pending applications awaiting review, spanning spot Bitcoin and Ethereum ETFs, altcoin funds, and meme coin-backed offerings.

ETF analyst Nate Geraci pointed out that several key issues now fall under Atkins’ jurisdiction. These include decisions around staking for Ethereum ETFs, in-kind creation and redemption mechanisms for spot funds, and rulemaking related to derivatives.

The sudden rise in applications is being interpreted as a strategic move by asset managers to capitalise on the shift in leadership.

Altcoins and meme coins may gain SEC favour

The contrast between Atkins and Gensler is already being felt. Gensler had argued that most cryptocurrencies lacked intrinsic value and were fuelled by hype, which he said made them unstable investment vehicles.

His tenure was marked by consistent pushback against altcoin and meme coin products, delaying or denying multiple ETF approvals.

Under Atkins, however, industry analysts believe there could be a regulatory thaw, especially for tokens beyond Bitcoin and Ethereum.

His market-friendly stance is raising expectations that several high-profile altcoin ETFs may be approved in the coming months. One analyst claimed the SEC had become a “pro-crypto administration”, reflecting the optimism within the industry.

Key lawsuits dropped under Trump-era SEC

Beyond ETFs, Atkins inherits an SEC that has recently seen several major crypto enforcement cases dropped or concluded.

Companies including Coinbase, Ripple, Kraken, Uniswap, and Yuga Labs reportedly had investigations or lawsuits closed in the months leading up to Atkins’ confirmation.

Public filings show these firms, among others, collectively donated over $85 million to Trump’s inauguration committee, prompting scrutiny over the SEC’s independence.

The Biden-era SEC, under Gensler, had aggressively pursued these firms, alleging securities violations across various token offerings and staking services.

But the Trump-led pivot, now cemented by Atkins’ leadership, is being interpreted by legal experts as a broader retreat from that enforcement strategy.

What Atkins’ SEC means for crypto regulation

Paul Atkins previously served as SEC commissioner from 2002 to 2008. Known for advocating market deregulation and supporting innovation, his return signals a broader political shift in US financial regulation.

As the SEC oversees a $2.8 trillion crypto market, Atkins’ decisions over the coming months are likely to set the tone for how the agency treats decentralised finance, altcoins, and tokenised assets.

The crypto industry is now watching closely to see whether this new direction will lead to lasting regulatory reform or if challenges will resurface depending on the outcomes of ongoing political shifts in Washington.

Either way, the SEC’s near-term trajectory is now tied to Atkins’ interpretation of investor protection and market integrity in the rapidly evolving digital asset space.

The post New SEC chair Paul Atkins begins term as 72 crypto ETFs await approval appeared first on CoinJournal.

Kaspa (KAS) price jumps 13% to lead top gainers today

  • Kaspa (KAS) price rose sharply as Bitcoin traded to above $88k
  • The 13% jump for KAS puts it among the top gainers today.
  • Kaspa price could target $0.2 in the short term.

Kaspa (KAS), a proof-of-work cryptocurrency leveraging the innovative GHOSTDAG protocol, has surged 13% in the last 24 hours, making it the top gainer among the top 100 cryptocurrencies by market cap.

This rally comes amid a broader market upswing, with Bitcoin (BTC) climbing above $88,000 and top altcoins showing signs of renewed momentum.

The surge suggests Kaspa’s unique blockDAG technology, which allows parallel block creation for faster transactions, continues to attract investor attention.

Kaspa price today

As of writing on April 22, 2025, Kaspa’s price is approximately $0.091, with a double digit increase in 24 hours.

Notably, the altcoin’s price is up 48% in the past two weeks and reached an intraday high above 0.092, its highest level since early March.

With a market cap of around $2.4 billion, KAS currently ranks 37th globally.

Meanwhile, the trading volume has spiked by over 80%, reaching $115 million, a scenario that signals strong market interest.

Despite KAS price being well below its all-time high of $0.2075 from August 2024, today’s performance suggests Kaspa is regaining traction.

The coin’s ability to process multiple blocks per second, aiming for 10 or even 100, underpins its appeal for scalability-focused investors.

Bitcoin helps bulls higher

Bitcoin’s climb above $88k has ignited optimism across the crypto market, providing a tailwind for altcoins like Kaspa.

The OG crypto’s resilience, driven by positive sentiment around institutional adoption and potential U.S. regulatory shifts, has lifted market confidence.

Granted, other top altcoins, including Dogecoin and IOTA, have also posted gains over the past week.

However, Kaspa leads the pack among 100 largest by market cap. Its proof-of-work model, akin to Bitcoin’s, positions it as a beneficiary of BTC’s bullish momentum.

I’m addition, MARA’s mining of KAS tokens since September 2023 further ties Kaspa’s fortunes to the broader PoW ecosystem, boosting its credibility and investor interest.

KAS price analysis

Technical indicators point to a bullish outlook for Kaspa.

A look at the daily chart shows KAS breaking above the $0.089 resistance, now acting as support, with the next targets at $0.106 and potentially $0.15.

Kaspa price chart by TradingView

The possible double bottom pattern combines with bullish indications from the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD).

The latter shows a bullish crossover, signaling continued upside potential.

However, volatility remains a risk, which could hinder a short term surge to $0.2. But if buyers sustain the momentum, this hurdle could give way to an extended rally.

 

The post Kaspa (KAS) price jumps 13% to lead top gainers today appeared first on CoinJournal.