President-elect Donald Trump announced Wednesday his intention to nominate former U.S. Securities and Exchange Commission member Paul Atkins as the agency’s next chair. The announcement, made on Truth Social, ends speculation about Trump’s choice to replace outgoing SEC Chair Gary Gensler.
A Pro-Crypto Advocate at the Helm
Atkins, a Republican who served as an SEC Commissioner from 2002 to 2008, is known for his market-friendly views and advocacy for innovation in financial markets. He currently serves as CEO of consulting firm Patomak Global Partners and collaborates with the Digital Chamber, a prominent cryptocurrency lobbying group.
Trump underscored Atkins’ support for digital assets in his announcement, stating that he recognizes the importance of “robust, innovative capital markets” and the role of digital assets in advancing economic growth. “Atkins believes in the promise of robust, innovative capital markets that are responsive to the needs of investors & that provide capital to make our economy the best in the world,” Trump wrote.
Prior SEC Tenure and Current Role
During his tenure at the SEC, Atkins advocated for deregulatory measures and initiatives to streamline regulatory compliance for businesses. His nomination suggests a shift toward policies favoring the cryptocurrency industry and lighter regulatory oversight compared to his predecessor.
