U.S. President-elect Donald Trump has picked pro-crypto and former federal regulator Paul Atkins to serve as SEC chair.
Paul Atkins, a one-time Commissioner at the U.S. Securities and Exchange Commission, was nominated by President-elect Donald J. Trump to spearhead leadership at the securities agency. In a Dec. 4 Truth Social post, Trump wrote: “I am delighted to announce the nomination of Paul Atkins to be the next Chairman of the Securities and Exchange Commission.”
The President-elect described Atkins “a proven leader for common sense regulation”, reinforcing a plan to approach SEC regulation differently.
Crypto supporter Paul Atkins
Atkins started Patomak Global Partners in 2009 after a seven-year term as an SEC Commissioner under former President George W. Bush from 2002 to 2008. The consulting firm has crypto exchanges and decentralized finance operators as clients, according to Patomak’s official website.
Trump reportedly offered Atkins the SEC chair role on Dec. 3. Shortly after, reports citing unnamed sources said Atkins was reluctant to lead the agency following Gary Gensler’s tenure. The nomination requires Senate confirmation before becoming official.
You might also like: Donald Trump may tap Paul Atkins as SEC chair
Washington and Crypto react
Crypto exchanges and Republican policymakers hailed the news as good for digital assets via X. Coinbase CLO Paul Grewal expressed anticipation for the potential new SEC boss. Majority Whip Tom Emmer cheered the nomination while criticizing the SEC’s approach under outgoing chair Gary Gensler.
Retiring House Financial Services Committee Chair Patrick McHenry added that Atkin’s chairship will usher in “clarity for the digital asset ecosystem.” Gensler announced his intention to resign from the SEC on Trump’s inauguration on Jan. 20, 2025.
Paul Atkins has extensive public and private sector experience and understands that “regulation by enforcement” is a losing strategy that has crippled American innovation. I look forward to working with him and @realDonaldTrump as we usher in a new era of American innovation.
— Tom Emmer (@GOPMajorityWhip) December 4, 2024
Read more: Vladimir Putin: Bitcoin can’t be stopped
