- Paul Atkins’ SEC chairmanship, linked to Reserve Protocol, sparks RSR token interest; Coinbase lists it on Base, fueling bullish speculation.
- Oregon’s lawsuit against Coinbase heightens state vs. federal crypto law concerns; Atkins’ pro-market stance offers potential regulatory relief.
- RSR’s 10% surge and Coinbase listing prompt analysts to predict a possible top 100 market cap ranking within 2.5 months.
As Coinbase faces new legal woes from Oregon, hopes rise for a more balanced stance as Paul Atkins steps into the SEC as the new chair. Atkins was also linked to the Reserve Protocol, a stablecoin firm, as an early backer during its 2019 launch. Following the appointment, Reserve Rights (RSR) has seen renewed attention, rising by 10% in the past day. Many interpret this as a bullish confluence.
Adding to this momentum, Coinbase, in an April 21 post, announced it would list the RSR token on Base, an Ethereum layer-2 network. Trading will begin on April 22nd at 9 am Pacific Time (4 pm UTC). Buoyed by its rapid growth, analysts are considering the possibility of the token reaching the top 100 market cap rankings within the next two and a half months.
$RSR will make the top 100 in the next two and a half months. Today is April 21, 2025.
With respect to Atkins, the former SEC commissioner is expected to hold a more pro-market, deregulatory stance. During his previous stint, he had often expressed concerns about excessive government intervention in financial markets. If the SEC under Atkins adopts a more industry-friendly approach, it could lessen the regulatory burden on Coinbase and other crypto companies that are currently under scrutiny.
Coinbase Faces Oregon Securities Lawsuit: State Authority in Crypto Questioned
Last week, Oregon Attorney General Dan Rayfield filed a lawsuit against the exchange, alleging violations of the state’s securities laws. The 171-page lawsuit accused Coinbase of allowing the sale of virtual currencies with no “robust disclosures of material information,” a key requirement under Oregon’s administrative rules.
The case has sparked renewed concerns about state vs. federal authority in defining crypto law. While it remains to be seen how state-level agencies align with federal guidelines, the appointment of a new SEC chair has spurred hopes for a more balanced approach towards the crypto industry and its stakeholders.
However, it’s essential to remain cautious and monitor his actual policies and actions as the SEC Chairman.