Democrat Maxine Waters Criticizes SEC Chair Paul Atkins Over Crypto Enforcement Amid 2026 House Majority Prospects
Maxine Waters, the ranking Democrat on the House Financial Services Committee, criticized SEC Chair Paul Atkins regarding his policies and enforcement actions on cryptocurrencies. Waters, who could become the chair if Democrats win the House majority in 2026, has expressed concerns over the SEC's handling of major crypto enforcement actions. The Kalshi prediction market currently gives Democrats a 75% chance of winning the House in 2026, positioning Waters for increased influence.
Waters has requested that Atkins testify before the committee about the SEC's crypto policies. She criticized the SEC for terminating or staying significant enforcement actions against various crypto firms and individuals, including Coinbase, Binance, and Justin Sun, without sufficient public scrutiny. Some of these cases were ended before votes took place, with Atkins' office allegedly playing an unusually active role in these decisions.
Furthermore, Waters accuses the SEC of presenting its agenda as aligned with the administration's goals and using staff statements rather than formal rules to regulate the crypto industry. This approach bypasses the Administrative Procedure Act and the process for public comment.
The letter seeking Atkins' testimony was sent to Republican chair French Hill. The SEC did not immediately respond to CoinDesk's request for comment. Notably, Atkins was appointed SEC chair following the Trump administration and has prioritized fostering growth in the U.S. crypto industry, with many pending crypto cases being dropped.
