Paul Atkins, nominated by President Donald Trump to lead the US Securities and Exchange Commission, faced intense questioning regarding his previous regulatory decisions and potential conflicts of interest during a Senate Banking Committee hearing. Key concerns were raised by Democrats, particularly Sen. Elizabeth Warren, who criticized Atkins for his past dealings that allegedly supported wealthy executives like Sam Bankman-Fried, implying conflicts of interest. Atkins defended his record, stating that the causes of the 2008 financial crisis included factors beyond deregulation, and emphasized the subprime mortgage crisis's role. While Atkins recognized the importance of regulating digital assets, he did not provide specific plans for oversight in this area. He also mentioned intentions to establish clear guidelines for cryptocurrency firms. With a reported net worth exceeding $327 million and plans to divest his consulting firm's stake if confirmed, questions about transparency regarding the sale arose. Warren expressed skepticism about the disclosure of potential buyers, likening it to a 'pre-bribe.'

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