Paul Atkins Sworn In to Lead the SEC: 'A Firm Regulatory Foundation for Digital Assets' — Trump: He Will 'End the Weaponization' (April 22, 2025)

President Donald Trump welcomed a new chairman to the Securities and Exchange Commission and promised a change of direction. “Paul will end the weaponization of the SEC and stop the lawless enforcement practices that occurred during the Biden administration,” Trump said in the Oval Office on April 22, 2025, as Paul Atkins took the oath, according to the transcript published by the American Presidency Project [1].

“A top priority in my chairmanship will be to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach,” Atkins said [1].

The video above shows Atkins’ swearing-in on April 22, 2025. Quotes are from the American Presidency Project [1][2][3].

”Clear Rules of the Road”

“No one in America is more highly qualified to lead the SEC in this exciting time than Paul. He’s devoted his entire life to the cause of free, clear, pro-growth, and pro-innovation securities markets,” Trump said [1].

“Paul has also been a leader in the emerging crypto and blockchain industries and served as cochair of the Digital Chamber’s Token Alliance,” he said [1].

Trump said crypto innovators badly want “regulatory certainty and clear rules of the road.” [1]

“They were vicious people. They were vicious and horrible for our country,” Trump said of the people behind it [1].

Treasury Secretary Scott Bessent then swore Atkins in. “So help me God,” Atkins said [1].

”It Is a New Day”

“So, at the helm of the SEC, I can confidently say it is a new day. It’s time for the SEC to end its waywardness and return to its core mission that Congress set for it: investor protection; fair, orderly, and efficient markets; and capital formation,” Atkins said [1].

“I’ll work to protect investors from fraud, keep politics out of how our securities laws and regulations are applied, and advance clear rules of the road that encourage investment in our economy to the benefit of Americans,” he said [1].

“We will work to ensure that the United States is the best and most secure place in the world to invest and to do business,” Atkins said [1].

He remembered his father. “Today would have been my father’s 114th birthday,” Atkins said. “Colonel Atkins was a veteran of World War II and Korea.” [1]

And he complimented the room. “But I really must say the Oval Office has never looked better. One could really describe it as glistening,” Atkins said, to laughter [1].

Asked about crypto rules at the SEC and the Commodity Futures Trading Commission, Atkins said: “I think there’s no reason why the two agencies can’t be working cheek to jowl on these issues for the American investor and the American economy.” [1]

“No Intention of Firing Him”

Asked if he would fire Federal Reserve Chairman Jerome Powell, Trump said: “No, I have no intention of firing him. I would like to see him be a little more active in terms of his idea to lower interest rates. This is a perfect time to lower interest rates.” [1]

“None whatsoever. Never did. The press runs away with things,” Trump said [1].

”We’ll Set the Deal”

On China, Trump said: “We’re going to be very nice, they’re going to be very nice, and we’ll see what happens. But ultimately, they have to make a deal, because otherwise, they’re not going to be able to deal in the United States.” [1]

“And if they don’t make a deal, we’ll set the deal,” he said [1].

Companies can avoid tariffs entirely, Trump said: “if they build their product or make their product in the United States, we have absolutely no tariffs, and we welcome people.” [1]

“The Strongest Border We’ve Ever Had”

Asked about deportations, Trump said: “honestly, it’s one of the great successes. We have virtually nobody coming in illegally.” [1]

“We have got the strongest border we’ve ever had,” Trump said [1].

“The prices are going down, not going up. One of the big things is, energy is going down,” he said [1].

“Well, yesterday we had 48,000 people at the Easter hunt,” Trump said of the White House Easter Egg Roll the day before [1].

Asked whether Hamas could govern Gaza after the war, Trump said: “Well, we’re not going to let Hamas do that, and we’re going to see what happens with Gaza.” [1]

Asked about a possible bonus for mothers who have a child, Trump said: “Sounds like a good idea to me.” [1]

By the Numbers

2002 to 2008: Atkins’ earlier term as an SEC commissioner, per Trump [1].
2 agencies: the SEC and the CFTC, which Atkins said should work together on crypto [1].
100 percent: the reserve backing the GENIUS Act requires for stablecoins, per the White House [2].

What Happened Next

Crypto got its first rules. On July 18, 2025, Trump signed the GENIUS Act, which the White House said “creates the first-ever Federal regulatory system for stablecoins, ensuring their stability and trust through strong reserve requirements.” [2]

“The GENIUS Act will make America the undisputed leader in digital assets, bringing massive investment and innovation to our country,” the White House said [2].

Newborns got accounts. The One Big Beautiful Bill, signed on July 4, 2025, included “Creating Trump Investment Accounts for every American newborn,” the White House said [3].

For Press Secretary Karoline Leavitt’s briefing the same day, see HYGO News’ page on April 22, 2025. For Trump’s promise of the big, beautiful bill at his 100-day rally, see the page on April 29, 2025.