Strategy founder Michael Saylor shared why recently appointed United States Securities and Exchange Commission Chair Paul Atkins may be good for business in a post published to X on Tuesday.
Atkins Promises Principled Crypto Regulation
“SEC Chairman Paul Atkins will be good for Bitcoin,” Saylor said in an April 22 post with a video of the SEC head affirming his commitment to digital asset regulation.
“A top priority of my chairmanship will be to provide a formal regulatory foundation for digital assets,” Atkins said during his swearing-in on Tuesday.
“Through a rational, coherent, and principled approach, we will work to ensure that the United States is the best and most secure place in the world to do business,” he added.
Strategy Continues Bitcoin Buys
Strategy, which announced it purchased 6,556 BTC for a little more than $555 million this past week, has long been known for its Bitcoin acquisition strategy.
The Bitcoin treasury firm, which began buying up the cryptocurrency under Saylor’s direction in 2020, previously paused Bitcoin purchases on April 7 shortly following U.S. President Donald Trump’s controversial “Liberation Day” tariffs announcement.
The economic policy sent shockwaves throughout markets globally, with Bitcoin dropping nearly 3% after briefly rising by over 1%.
Bitcoin Rallies To $93,000
Meanwhile, Bitcoin experienced a small rally on Tuesday, with the cryptocurrency hovering around $93,000 on Wednesday.
The coin’s sudden surge coincided with Atkins’ official swearing-in ceremony, marking the beginning of his tenure at the SEC.
The federal regulator has faced pushback in recent years for its regulation-by-enforcement approach to the blockchain sector spearheaded by then-SEC Chairman Gary Gensler.
However, the agency has made a drastic change toward its digital asset stance over the past few months, dropping several lawsuits against key players in the crypto industry such as Kraken, Coinbase, and more.
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