Trump names pro-crypto Paul Atkins as new SEC chair
President-elect Donald Trump has made a big move in the crypto arena, nominating Paul Atkins, a former SEC commissioner, to lead the US Securities and Exchange Commission (SEC). This nomination is pending Atkins’s acceptance, but if he does take on the role, it will be subject to Senate confirmation.
Atkins is no stranger to the world of crypto. Since his time as an SEC commissioner during the Bush administration, he has been a strong supporter of the crypto sector. He co-chairs the Token Alliance at the Digital Chamber of Commerce and has provided advisory services to digital finance firms on regulatory matters through his consultancy, Potomak Global Partners.
It’s clear that Atkins has a lot of respect among Senate Republicans, with George Mason University professor J.W. Verret noting that his unique libertarian perspective during his time as an SEC commissioner was appreciated. If Atkins becomes the SEC chair, it’s expected that he will bring a pro-innovation and pro-crypto approach to the agency.
President-elect Trump’s selection of Atkins comes following SEC chair Gary Gensler’s announcement that he will be stepping down in January. Under Gensler’s leadership, the SEC has been actively enforcing regulations on crypto entities, emphasizing current securities laws.
Trump’s transition team has made efforts to consult with leaders in the crypto industry before making this nomination, showing a commitment to understanding the needs of the sector. This nomination fits into Trump’s broader agenda in the crypto space, which includes proposals for a “Crypto Advisory Council” and the creation of a “Strategic Bitcoin Reserve.”
Overall, this move showcases Trump’s dedication to positioning the US as a key player in the world of crypto. With Atkins potentially leading the SEC, the crypto sector could see a more favorable environment for innovation and growth.
