FINANCIAL INDUSTRY AND REGULATION 

New SEC Chair Atkins Confirmed by Senate: AltsWire reports that the U.S. Senate voted 52-44 late Wednesday to confirm the appointment of Paul S. Atkins as the new Securities and Exchange Commission chairman.

Acting SEC Chair Orders Crypto Review: The Block reports that acting SEC Chair Mark Uyeda has directed staff to review statements on cryptocurrency regulation and securities laws, including guidance on the Howey test for digital assets and investor warnings about Bitcoin futures.

SEC Says Stablecoins are Not Securities: CNBC reports that the SEC issued a statement last week clarifying that it does not deem certain stablecoins to be securities.

State Model Rules to Match Reg BI: Wealth Management reports that state securities regulators have approved amendments to their model rule for broker/dealer conduct in order to match the federal standards in the SEC’s Regulation Best Interest, according to the NASAA, including barring broker-dealer representatives from billing themselves as “advisors” or “advisers."

RIA Panel Discussed Alts at ADISA Spring Conference: AltsWire reports that several registered investment advisers told a panel discussion at ADISA’s 2025 Spring Conference last week that incorporating alternative investments into client portfolios requires a sophisticated, client-centric strategy built on diversification, rigorous due diligence, and extensive education.

AUM Threshold Under SEC Review: Wealth Management reports that the SEC is reconsidering the assets under management threshold separating state-registered advisors and their federal peers set by the Dodd-Frank Act.

SEC Commissioner Calls for International Regulatory Standard Review: Risk reports that SEC Commissioner Hester Peirce has called for a reassessment of international regulatory standards, voicing concern that some approaches could pose challenges for U.S. capital markets.

DOL Trying to Unwind Biden Independent Contractor Rule: Bloomberg Law reports that the Trump administration asked several federal courts to freeze challenges to a U.S. Department of Labor rule on independent contractor status while the agency “reconsiders” the policy, the first step in unwinding the closely-watched Biden-era gig economy rule.

POLICY AND LEGISLATION

House Finalizes Trump Budget Blueprint: Politico reports that House Republicans narrowly approved the blueprint for President Trump’s “one big, beautiful bill” by a 216-214 after a late push by party leaders, clearing the way for tax cuts.

Senate Passes Budget Plan to Implement Trump Agenda: The Wall Street Journal reports that Senate Republicans plowed ahead with their plans for trillions of dollars in tax-cut extensions and new breaks, completing a crucial budget vote last weekend to advance President Trump’s legislative agenda.

DOJ Scaling Back Crypto Enforcement: The Wall Street Journal reports that the Justice Department is scaling back its crypto enforcement, saying it will no longer bring charges against exchanges, dealers, mixing services and wallet providers “for the acts of their end users,” says Deputy Attorney General Todd Blanche.