Online reported that Paul Atkins, the nominee for chairman of the U.S. Securities and Exchange Commission, attended the confirmation hearing of the Senate Banking Committee. In his testimony, he highlighted the need for digital asset management rules and said it was an urgent challenge for innovation and investor protection. Paul Atkins also criticized certain work during Gary Gensler's tenure and promised to further investigate the FTX crash to ensure it was thoroughly investigated, thereby protecting investors, promoting efficient markets and promoting capital formation. In response to a question from Senator Elizabeth Warren, Paul Atkins emphasized that he would divest all financial assets that might have conflicts of interest, including crypto-related assets and his consulting firm Patomak Global Partners.