Atkins Nomination for SEC Chair Approved by Senate Banking Committee, Moves On to Full Senate

U.S. SEC Nominee Atkins Gets Confirmation Nod From Senate Banking Committee

The U.S. Senate Banking Committee has voted to advance the confirmations of President Donald Trump’s picks to run the Securities and Exchange Commission and the Office of the Comptroller of the Currency — both key positions for the future U.S. regulation of the crypto sector.

The nominations of Paul Atkins to permanently take over the SEC from former Chair Gary Gensler and of Jonathan Gould to lead the banking regulator OCC now move to consideration by the overall Senate. Approvals there will allow Atkins and Gould to start work at the regulatory agencies.

How North Korea Cheated Its Way to Crypto Billions

… North Korea is now the world’s most dangerous crypto thief.

It has swiped more than $6 billion in cryptocurrency over the past decade—a sum so large that no one else compares.

The country’s hackers are both patient and brazen, according to investigators. To get into companies’ computers, they comb through employees’ Facebook and Instagram pages and invent tailor-made stories to trick them into clicking on links with viruses. Some North Korean hackers have even become employees themselves, fooling U.S. companies into hiring them as remote IT workers and gaining access to their networks.

After grabbing their bounty, North Korean hackers are masters at escaping. At WazirX, investigators believe they used algorithms to spread funds through global crypto networks faster than any human could, making it almost impossible for authorities to catch up. Once the crypto is dispersed, North Koreans often lie low until investigators lose interest and move on, waiting months or years to convert their haul into traditional money that can be spent.

Law Firm Kirkland & Ellis in Talks With White House to Avoid Executive Order

Kirkland & Ellis, the largest U.S. law firm by revenue, is in talks with the White House to avoid an executive order similar to those levied against several of its rivals, according to people familiar with the matter. […]

Three targeted firms, Perkins Coie, Jenner & Block and WilmerHale, filed lawsuits challenging the administration’s actions. Three different judges have blocked the administration from enforcing the bulk of the orders.

Other firms have instead elected to strike deals with the administration, including Kirkland’s major corporate law peers, Paul Weiss and Skadden, which agreed to provide tens of millions of dollars of pro bono legal services to support administration initiatives, including support for veterans.

Democrats Renew Court Bout for SEC Climate Rules as Agency Exits

Massachusetts, New York, and more than a dozen other states, plus DC, are dedicated to defending SEC corporate emissions reporting requirements against lawsuits, after the agency stopped fighting for the 2024 rules last month.

The declaration from Democratic attorneys general in a court document submitted late Wednesday was the first time their states affirmed a commitment to battling the legal challenges without the Securities and Exchange Commission. The SEC under President Donald Trump abandoned its defense of the rules on March 27, after battling for months to save them during Joe Biden’s administration.