Welcome to Wall Street’s Paul Atkins, the newly sworn-in 34th Chairman of the United States Securities and Exchange Commission (SEC). He was sworn in this week, marking a new chapter for the regulatory body and signaling potential shifts in its approach to financial markets, particularly concerning cryptocurrencies. Atkins is entering the job with undeniable support from both President Trump and the Senate. Both the traditional finance and crypto communities are eagerly and skeptically looking on.

Atkins certainly has the experience to step right into his new position. He was a Commissioner on the SEC from 2002 to 2008. His previous tenure positions him to have a thorough knowledge of the agency’s inner workings and challenges. His supporters hope that this acquired experience will allow him to steer the SEC to better weather his time’s quickly evolving financial and technological landscape.

Perhaps the most striking element in Atkins’ profile though is his enormous personal bet on the future of cryptos. This new financial interest has led to intrigue. Many think he would act more positively to the crypto industry under his leadership. Many in the crypto space are hopeful that his understanding of digital assets will translate to more balanced and innovation-friendly regulations.

In his swearing-in speech, Atkins reiterated his intention to ensure fair, orderly, and efficient markets. In doing so, he stressed the importance of being able to protect investors from predatory practices. This emphasis on investor protection should be a touchstone of all his policy initiatives. Atkins plans to keep the SEC’s enforcement policies apolitical. He is personally committed to keeping regulation fair and level.

Atkins takes the helm at the SEC both a critical and a promising juncture. The agency has already stretched itself thin tackling the myriad challenges. It needs to rein in new technologies such as blockchain and artificial intelligence all while keeping watch over more established financial markets. Perhaps most notably, the crypto community is hoping that Atkins’ confirmation will help clear the agency’s backlog of crypto-based exchange-traded fund (ETF) applications.

One of the urgent issues on Atkins’ to-do list is the dozens of Ripple (XRP) ETF applications sitting around, waiting for approval. At present, more than 17 such applications are pending before the SEC. The rationale behind every decision taken on these applications will almost certainly create precedent for a host of future, crypto-related investment products. Most observers assume that Atkins’ SEC will accelerate the FTA approval process. They single out his high level of confidence as to the potential and safety of cryptocurrency investments as a fatal flaw.

Atkins’ background and experience have contributed to a sense of optimism in the crypto industry. We all hope that his deep knowledge of digital assets will help create a regulatory environment for them here in the United States that is positive and productive. His own investments in the crypto world solidify this view. They imply that he thinks these technologies have long-term viability or potential.

As Chairman, Atkins has certainly shown that he’s willing to approach his new mandate with a forthright and full-throated commitment. He is expected to navigate the complexities of modern financial regulation while ensuring that the SEC remains a vigilant protector of investors and a facilitator of fair and efficient markets. There’s no doubt that the next few months will prove extremely influential in determining what the future of crypto regulation looks like with his leadership.

Coverage from outlets such as Crypto Briefing, Coingape and Cointelegraph confirms the excitement and eagerness around Atkins’ appointment. These covenants demonstrate the opportunity for groundbreaking policy change. Under his guidance, industry players should look forward to a more welcoming approach towards the crypto industry. The global financial community will be looking closely as Atkins takes his first real steps to put his vision of the SEC in place.