Coinbase Listing Sparks Speculation Tied to Trump’s SEC Pick

Coinbase has revealed it will soon support trading for Reserve Rights (RSR) on the Base blockchain, with transfers already live for users in eligible regions.

Coinbase is set to introduce support for Reserve Rights (RSR) on the Base blockchain, with token transfers already enabled for users in eligible regions.

According to the exchange, full trading will commence no earlier than 9 AM PT on April 22, 2024, beginning with the RSR-USD pair once sufficient liquidity is reached.

This listing comes as RSR has been gaining attention due to a recent surge in price—up 7.7% in a day, 7.2% over the past week, and more than 24% over the last month.

Much of the buzz is linked to Paul Atkins, a former SEC Commissioner with prior ties to the Reserve Rights Foundation, who has now been selected by President Trump to lead the SEC.

Atkins, who previously advised the Reserve project during its early stages, is seen by some in the industry as supportive of crypto innovation. His nomination has sparked speculation that his leadership could create a more favorable regulatory climate, potentially aiding tokens like RSR.

Atkins's involvement with Reserve Rights Foundation, the non-profit organization behind the Reserve project and the RSR token, has been a subject of discussion.

During his time at the SEC, he was known for his stance on crypto regulation, which differed from the views of former SEC Chair Gary Gensler.

Atkins is said to hold a more optimistic outlook on crypto tokens compared to Gensler, who prioritized setting clear boundaries for the industry.

This difference in opinion is significant, as Gensler's administration focused on enforcing existing securities laws, leading to several high-profile cases against exchanges like Coinbase and Binance.

Atkins's appointment has generated interest in how the SEC might approach crypto regulation going forward. Some believe that his leadership could usher in a less adversarial and more productive dialogue between the industry and regulators.

Coinbase's decision to launch RSR trading exclusively on the Base network is due to the timing and Atkins's past involvement.

Critics have questioned whether the listing is a coincidence or strategically aligned with growing optimism about the token's regulatory prospects.

Oregon's Attorney General is reportedly preparing a securities-related enforcement action against Coinbase, marking the latest legal development for the exchange.