In the ongoing developments surrounding the rapidly evolving cryptocurrency landscape, Donald Trump's team is reportedly considering a new chairman for the Securities and Exchange Commission (SEC) to replace the current chairman, Gary Gensler. According to the latest reports, Trump's team has considered former cryptocurrency-supporting commissioner Paul Atkins for the SEC chairman position.
Trump's team considers Paul Atkins to replace Gary Gensler
Atkins is known for his expertise in cryptocurrency and his innovative stance in supporting this rapidly developing landscape. Once elected as SEC chairman, it is highly likely that he could actively advocate for and promote U.S. cryptocurrency regulation while encouraging rapid growth in this sector.
Recently, Eleanor Terrett, a reporter at Fox Business, noted on X (formerly Twitter),
"Atkins is someone who not only understands cryptocurrency but also has a deep understanding of the inner workings of this agency as a former commissioner and staff under two previous SEC chairmen — Richard C."
Terrett added that Atkins is seen as capable of setting an agenda that supports innovation while bringing the agency back to what many in the Republican Party feel has been lost under outgoing chairman Gary Gensler's tenure.
Current market outlook
Following this anticipated update, the cryptocurrency market in general began to turn green. As of the time the press reported, top assets including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) recorded gains of over 2.75%, 7.5%, and 6% respectively over the past 24 hours. Meanwhile, other major cryptocurrencies are also experiencing similar upward momentum.
