A governance token for the Reserve Protocol stablecoin, which was advised by former SEC Chair Paul Atkins, has seen a 13% surge following its listing on Coinbase. Atkins had been an early advisor for the stablecoin firm when it launched in 2019, according to Reserve Protocol’s CEO Nevin Freeman. The Reserve Rights (RSR) token serves as the governance token for the Reserve Protocol’s stablecoin, Reserve Dollar (RSV). Coinbase announced the listing of the RSR token on the Ethereum layer-2 network Base on April 22. The news of Atkins being sworn in as SEC chair on April 21 further boosted the token’s price by 13.6% to reach a two-month high of $0.00835 on April 22. Prior to Atkins’ appointment, RSR had already experienced a double-digit increase. Currently, RSR ranks as the 143rd largest coin by market capitalization at $464 million. Atkins has expressed his focus on making the US a secure place for investments while ensuring consumer protections are in place. His appointment as SEC chair came after a Senate confirmation vote on April 9. Under Atkins’ leadership, the SEC is expected to take a more crypto-friendly approach, working towards a rational and principled regulatory framework for crypto assets. The SEC’s previous Crypto Task Force, established during Gary Gensler’s tenure, has consulted with the industry on regulations and resolved various crypto-related investigations. Atkins replaces Mark Uyeda as the new SEC chair, taking over the role after Gensler stepped down.