Trump appoints crypto-friendly lawyer as new head of Securities and Exchange Commission
In a recent move that has delighted the cryptocurrency industry, Donald Trump has nominated seasoned Washington attorney Paul Atkins to lead the Securities and Exchange Commission (SEC). Atkins previously served as an SEC commissioner from 2002 to 2008 and has since founded the risk consultancy firm Patomak Global Partners, which works with clients in banking, trading, and cryptocurrency. Trump highlighted Atkins’ leadership abilities and his support for forward-thinking regulations in a statement, emphasizing the importance of digital assets for America’s future.
During his presidential campaign, Trump received significant financial backing from cryptocurrency supporters, many of whom are connected to mega-donor Elon Musk. This nomination has been met with enthusiasm from the digital assets industry, which had concerns about the outgoing SEC chair’s approach to the sector. Previous chair Gary Gensler was known for his critical stance towards cryptocurrency and his controversial measures regarding climate change reporting for public companies.
Kristin Smith, CEO of the Blockchain Association, praised Atkins’ nomination as a breath of fresh air after what she described as a challenging period for the industry under Gensler’s leadership. She hopes that Atkins’ appointment will bring about a more innovation-friendly environment that will benefit the economy and create jobs.
Overall, the nomination of Paul Atkins to head the SEC signals a potentially positive shift for the cryptocurrency industry and for the regulation of digital assets in the United States. Time will tell how Atkins’ leadership will impact the space, but for now, many are optimistic about the future under his guidance.
