He took over the agency on April 21, 2025, replacing cryptocurrency opponent Gary Gensler. During this time, the SEC significantly changed its stance on regulation and enforcement related to digital assets. The regulator accelerated the adoption of crypto ETFs and concluded enforcement actions against a number of crypto companies, including Binance, Coinbase, Ripple, and Kraken. Under his leadership, the SEC also signed a memorandum with the CFTC for the coordination of digital asset regulation. In addition, the agency issued a clarification that most cryptocurrencies are not securities. The SEC also submitted a proposal to the White House regarding cryptocurrency regulation. However, Democrats continue to demand explanations from Paul Atkins concerning the departure of Margaret Ryan, who led the SEC's enforcement division. It is speculated that she was barred from taking action against Trump supporters Elon Musk and Justin Sun.