Donald Trump has chosen pro-crypto Paul Atkins as the next chairman of the US SEC
Trump chose Paul Atkins, a pro-crypto libertarian, for the role of SEC chairman. Atkins is expected to provide clear crypto regulations. Although Trump may pursue a recess appointment, Senate confirmation is required.
President-elect Donald Trump has chosen crypto industry stalwart Paul Atkins to serve as the next chairman of the US Securities and Exchange Commission (SEC) when Gary Gensler steps down in January 2025.
The move is a major step toward fulfilling Trump's campaign promise to reshape the regulatory landscape for digital finance and bring transparency to cryptocurrency laws.
Atkins' Pro-Crypto Position
Atkins, who served as SEC commissioner under President George W. Bush, is known for his liberal views and has earned respect in conservative legal circles.
Since leaving the SEC, Atkins has been a supporter of the crypto industry, particularly in his role as co-chair of the Token Alliance at the Digital Chamber of Commerce. Atkins also co-founded Potomac Global Partners, a consulting firm he founded in 2009, advising digital finance companies on regulatory compliance.
The crypto market expects change under Trump's leadership.
Atkins' selection comes as Trump seeks to provide clearer guidelines for the cryptocurrency market, which has long been frustrated by SEC Chairman Gary Gensler's approach.
Under Gensler's leadership, the SEC has been criticized for pursuing enforcement actions against crypto companies without establishing a clear regulatory framework. This has caused widespread outrage in the crypto industry, with many calling for a more transparent and collaborative approach.
But Gensler announced his resignation effective Jan. 20, just as Trump is set to take office, leaving room for new leadership at the SEC.
During his campaign rallies, Trump promised to make America the “capital of the world” for crypto and vowed to replace Gensler to establish clear rules for the industry. He also proposed the creation of an advisory council focused on crypto policy and proposed a national Bitcoin strategic reserve.
Atkins' election signals a strong push for crypto-friendly regulations, a move that could be welcomed by the industry, especially after years of uncertainty.
Despite reports that Atkins is reluctant to accept the role, attention will now shift to the Senate, which will be responsible for confirming or denying Atkins' nomination, although Trump could choose a recess appointment if necessary.
