Trump's nominee to chair the Securities Exchange Commission (SEC), Paul Atkins, will appear at a confirmation hearing before the Senate Banking, Housing and Urban Affairs Committee on Thursday morning. "The current regulatory environment in the US financial system discourages investment and often punishes winners, unclear, overly complex and burdensome regulation is stifling capital formation, and US investors are inundated with disclosures that do not help them understand the true risks of investing," Mr. Atkins said in prepared remarks. "It is time to reset priorities and restore common sense to the SEC." In addition, Paul Atkins is also expected to discuss how to regulate the cryptocurrency industry, which he said would be a top priority as chairperson of the Securities Exchange Commission.