Paul Atkins’ loosely linked RSR token rises 13% after Coinbase listing

A governance token for the Reserve Protocol stablecoin, launched by a agency beforehand suggested by sworn-in SEC Chair Paul Atkins, has surged over 13% after crypto alternate Coinbase introduced that it’ll checklist the token. 

Atkins was an early adviser for the stablecoin agency across the time it launched in 2019, according to Reserve Protocol’s CEO Nevin Freeman. He’s now not consulting on the agency.

The Reserve Rights (RSR) token is the governance token aimed toward making certain the steadiness of the Reserve Protocol’s stablecoin, Reserve Greenback (RSV). 

In an April 21 X publish, Coinbase said it might checklist the RSR token on the Ethereum layer-2 network Base on April 22 at 9 am Pacific Time (4 pm UTC).

Atkins information bumps up RSR’s value even additional

The Coinbase listing, mixed with the information of Atkins officially being sworn in as SEC chair on April 21, pushed the token up 13.6% to a close to two-month excessive of $0.00835 on April 22, CoinGecko data exhibits.

Previous to Atkins being sworn in, RSR had already risen double digits to round $0.0081.

It’s at the moment the 143rd largest coin by market capitalization at $464 million.

Atkins stated he will likely be centered on making certain the US is the “greatest and most safe place on the planet to take a position and do enterprise,” whereas making certain ample client safety measures are in place.

It comes two weeks after the Senate confirmed Atkins as SEC chair in a 52-44 vote on April 9. 

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Atkins takes over from Mark Uyeda, who has been the SEC’s performing chair since Jan. 20, when former chair Gary Gensler stepped down.

Since US President Donald Trump returned to workplace, the SEC created a Crypto Task Force to seek the advice of with the business on regulation and dropped a number of crypto-related investigations and enforcement actions undertaken by the Gensler-led SEC.

Atkins is predicted to take a extra crypto-friendly strategy, telling a Senate confirmation hearing in March {that a} precedence of his on the SEC can be to supply a agency regulatory basis for crypto property via a “rational, coherent and principled strategy.”

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