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The U.S. Senate has officially confirmed Paul Atkins as the new Securities and Exchange Commission (SEC) chair. This is after his nomination was cleared in a 52-44 Senate vote on Wednesday, April 9. The confirmation of the former Wall Street consultant comes after U.S President Donald Trump named him to lead the agency in December of last year. “We welcome Paul Atkins as the next Chairman of the SEC. A veteran of our Commission, we look forward to him joining with us, along with our dedicated staff, to fulfill our mission on behalf of the investing public,” said the financial watchdog’s commissioners in a statement. Senate Banking Committee Chairman Tim Scott expressed confidence that Atkins would continue the SEC’s crypto-friendly approach under the Trump administration. He added that his experience would help roll back Biden-era policies, boost capital formation, support retail investors, and bring regulatory clarity to digital assets to keep U.S. markets competitive. Senator Cynthia Lummis voiced similar support, expressing confidence that his leadership would improve rulemaking for the crypto industry. Atkins is set to replace Mark Uyeda, who has been serving as the acting SEC chair since January 20 following the resignation of Gary Gensler. Since Gensler stepped down in January 2025, under Uyeda, the SEC has eased its approach to crypto enforcement. The agency has closed multiple investigations involving crypto firms, formed a Crypto Task Force, and reversed several previous rules that had imposed restrictions on digital assets. Atkins is expected to adopt a more favorable stance on crypto regulation in line with the Trump administration’s efforts to lower regulatory hurdles and strengthen the domestic digital asset industry. In a testimony before the Senate Banking Committee last month, the 66-year-old named the creation of a digital asset regulatory framework as a “top priority.” He criticized the existing lack of clear guidelines, arguing it causes confusion and suppresses innovation. The official also committed to working with Congress and SEC commissioners to build rules that balance investor protection with innovation. The new chair also brings extensive experience in the crypto space. He founded Patomak Global Partners in 2009, a consultancy whose clients include traditional banks, crypto exchanges, and DeFi platforms. From 2017 to 2024, he co-led the Token Alliance, which advocated for crypto-friendly policies. He also served as an SEC Commissioner from 2002 to 2008.

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As Islamic finance nears $12.5 billion, Shariah-compliant crypto projects aim to serve two billion Muslims — yet supply lags behind growing demand. A new report by INPUT touches on the growing demand for Shariah-compliant crypto products, even as the market struggles to meet the expectations of the world’s two billion Muslims seeking ethical, interest-free financial services. The Islamic finance sector, currently valued at $8 billion, is projected to reach $12.45 billion by 2028, growing at a rate of 11.7% annually, according to the report and a note shared with crypto.news. This rising interest is creating momentum for platforms that align with Islamic financial principles, including the prohibition of riba (interest), gharar (uncertainty), and associations with haram (forbidden) industries. Leading projects include HAQQ Network , MRHB, Sidra Chain, and Goldsand (formerly Inshallah Finance), all of which are building ecosystems around DeFi and digital assets that comply with Islamic law. HAQQ Network stands out as the largest, with $400 million in funding and over 6 million users across its product suite, including Islamic Coin, which allocates 10% of token issuance to charity. MRHB’s four-product DeFi stack includes TijarX and EmplifAI, while Goldsand supports halal staking with $4.5 million in staked assets. New INPUT report: "In 2025, Shariah-Compliant Crypto Products Fall Short of Demand" 2 bln Muslims seek financial services aligned with their values, yet compliant offerings are scarce. – Islamic finance → $12.45B by 2028 (11.7% CAGR) – 85% of Gen Z Muslims want Islamic banking… pic.twitter.com/N9OYBabfqG Sidra Chain, meanwhile, has processed nearly 13 million transactions from over 700,000 users. Despite this progress, the report notes a shortfall in offerings compared to demand — particularly among Gen Z Muslims, 85% of whom are already engaging with Islamic banking products. Experts say the path forward lies in regulatory clarity and standardized Shariah governance. With Islamic finance projected to reach $4 trillion globally, Shariah-compliant crypto may become a vital pillar of the emerging digital economy — if it can scale to meet growing demand.

Standard Chartered projects XRP may surpass Ethereum in market cap by 2028, citing cross-border utility, legal clarity, and institutional interest. Ethereum’s upcoming Pectra upgrade could challenge XRP’s momentum, aiming to boost ETH’s efficiency and possibly drive its price to $12,000. Following the price forecast previously discussed in a CNF update , where ETH’s price was flagged as being in potential danger, a recent analysis from Standard Chartered Bank has projected that XRP, the native token of the Ripple network, could overtake Ethereum (ETH) in market capitalization by the end of 2028. This forecast is rooted in XRP’s expanding role in cross-border and cross-currency payments —a sector experiencing significant growth. Geoff Kendrick, the bank’s Head of Digital Asset Research, emphasized that current global trade dynamics present opportunities for digital assets like XRP to thrive. In addition, a tweet by DustyBCCrypto shared: that Standard Chartered says XRP could hit $5.50 by end of 2025 and overtake Ethereum by 2028. The bank sees XRP dominating cross-border payments and surging to $12.50 by 2028. 💥BREAKING STANDARD CHARTERED SAYS XRP COULD HIT $5.50 BY END OF 2025 AND OVERTAKE ETHEREUM BY 2028 THE BANK SEES XRP DOMINATING CROSS BORDER PAYMENTS AND SURGING TO $12.50 BY 2028 pic.twitter.com/Y7ibhivQ1Q — DustyBC Crypto (@TheDustyBC) April 8, 2025 According to Barron’s, after a protracted four-year legal battle, the SEC dropped its appeal against Ripple, effectively concluding the $1.3 billion lawsuit that had accused the company of conducting an unregistered securities offering. This resolution has removed a significant cloud of uncertainty, allowing Ripple to concentrate on expanding its ecosystem and fostering partnerships. The market responded positively to this development, with XRP’s price experiencing a surge—reflecting renewed investor confidence. While XRP’s prospects appear promising, Ethereum continues to innovate and expand its capabilities. The upcoming Pectra upgrade, slated for release in the first quarter of 2025, aims to significantly enhance Ethereum’s scalability and efficiency. Moreover, industry experts, including Dr. Sean Dawson of Derive, project that such advancements could propel ETH’s price to as high as $12,000 within the year. This anticipated growth underscores Ethereum’s resilience and its ongoing efforts to maintain a competitive edge in the rapidly evolving digital asset landscape. Standard Chartered’s projection of XRP potentially surpassing Ethereum by 2028 hinges on several factors, including legal clarity, institutional adoption, and the broader evolution of the cryptocurrency market. While XRP’s recent developments position it favorably, Ethereum’s ongoing upgrades and established presence suggest a dynamic and competitive landscape in the years ahead. At the time of writing, Ethereum (ETH) is trading at $1,461.39, reflecting a 6.88% decrease over the past day and 21.81% in the past week, according to CoinMarketCap data. See the ETH price chart below.

U.S. legislators are pushing for clearer regulations on crypto, in an effort to keep the $2.7 trillion crypto industry in the U.S. U.S. Congress is seeing another major push for regulatory clarity on crypto. On April 9, the House financial services committee’s subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence held a hearing on crypto regulation. The goal of the hearing was to find ways to align U.S. securities laws with the realities of the digital age, especially with regard to crypto assets. In his remark to the committee, House Financial Services Committee Chairman French Hill commended the committee’s “bipartisan efforts to bring clarity and stability” to crypto assets. He also stated that he hoped that there would be meaningful legislation by the end of 2025. WATCH: Chairman @RepFrenchHill delivers opening remarks at today’s Subcommittee hearing: "It is incumbent on us to build on that momentum and continue working toward a comprehensive regulatory framework that establishes clear rules of the road for digital asset markets." 📺⬇️ pic.twitter.com/sEg0jHeshS “It is incumbent on us to build on that momentum and continue working toward a comprehensive regulatory framework that establishes clear rules of the road for digital asset markets… I look forward to hearing from our whitnesses today, and working with coleagues to get this across the finishline this year,” Rep. French Hill Despite offering criticism to the SEC, especially under Gary Gensler, committee members highlighted the SEC’s role in regulation. Subcommittee chairman Bryan Steil stated that the SEC would have a role in regulating token offerings. “At the same time, the Committee feels strongly that there is a role for the U.S. Securities and Exchange Commission to play in the digital asset ecosystem. For example, the Committee believes that issuers raising capital through the sale of new digital assets should fall under the jurisdiction of the SEC,” Rep. Bryan Steil This would likely not include memecoins, as the SEC, already under Gensler, ruled that memecoins were not securities. The rationale was that memecoins had no utility and are more akin to collectibles. The committee did face opposition, especially when Rep. Maxine Waters took the floor. She accused the members of the committee of favoritism toward Donald Trump’s crypto ventures, enabling him to become “crypto king.” The hearing is a part of the latest regulatory push to give clarity to crypto assets in the U.S. For instance, on May 22, the U.S. House passed the Financial Innovation and Technology for the 21st Century Act with bipartisan support.