Trump nominates cryptocurrency advocate Paul Atkins as SEC chair
President-elect Donald Trump has shared his intention to nominate Paul Atkins, a cryptocurrency advocate and CEO of Patomak Partners, as the new chair of the Securities and Exchange Commission. Trump praised Atkins as a proven leader in implementing common-sense regulations that prioritize the needs of investors and aim to strengthen our economy.
Atkins, a former SEC commissioner, is committed to fostering robust and innovative capital markets and recognizes the importance of digital assets in driving America towards greater economic prosperity. If confirmed by the Republican-led Senate next year, Atkins will take over from Gary Gensler, who has been focused on regulating the crypto industry and plans to step down on Inauguration Day, January 20, 2025.
Despite initially being skeptical about cryptocurrency, Trump has pledged to make the U.S. the global crypto hub and even proposed creating a strategic reserve of bitcoin. Since his election, crypto assets have seen a surge in value, with Bitcoin now surpassing $95,000. This has been met with enthusiasm from those in the crypto industry who are hopeful that Trump’s administration will introduce positive legislative and regulatory changes they have long advocated for.
Additionally, Trump has recently launched World Liberty Financial, a new venture to trade cryptocurrencies alongside family members. The future of cryptocurrency regulation in the U.S. appears to be evolving, and many are optimistic about the changes that may come under Atkins’ leadership at the SEC.
