BREAKING: Trump picks pro-crypto Paul Atkins to lead US Securities and Exchange Commission—report
Last Updated on December 4, 2024 by Michael Motha
Trump aims to position the US as a leading hub in the crypto arena under Atkins’s leadership.
Summary
- Donald Trump selected Paul Atkins, a pro-crypto advocate, for SEC chair, pending acceptance.
- Atkins, a former SEC commissioner, has supported the crypto industry and advised finance companies.
President-elect Donald Trump has selected Paul Atkins, a former SEC commissioner known for his support of crypto, to lead the US Securities and Exchange Commission (SEC), Unchained Crypto reported Tuesday, citing three sources familiar with the matter.
Trump is awaiting confirmation from Atkins on whether he will accept the offer. If Atkins declines, Trump will select another candidate for the role. If Atkins accepts, the nomination will undergo Senate confirmation.
Atkins, who served as SEC commissioner during the George W. Bush administration, has actively supported the crypto sector since leaving the commission.
Since 2017, Atkins has co-chaired the Token Alliance at the Digital Chamber of Commerce and advised digital finance firms on regulatory matters through his consultancy, Potomak Global Partners, which he founded in 2009.
“Senate Republicans really respect the tradition of Commissioner Paul Atkins,” said George Mason University professor J.W. Verret, a former SEC Advisory Committee member. “He was the first time anyone had been a true libertarian and SEC commissioner, and that was a unique thing.”
This appointment follows SEC Chair Gary Gensler’s announcement that he will step down on January 20. Under Gensler’s leadership, the SEC has aggressively pursued numerous enforcement actions against crypto entities, consistently applying existing securities laws to crypto assets and alleging violations related to fraud and unregistered offerings.
If Atkins accepts the nomination for SEC chair, he is expected to bring a pro-innovation and pro-crypto approach to the agency.
“There was never a commissioner in the history of the commission who was more respectful and thankful of the staff at the commission,” John Reed Stark, who worked with Atkins at the SEC in 2008, praised his leadership style.
Before making his decision, Trump’s transition team consulted crypto industry leaders for their input on the chairperson position.
President-elect Donald Trump is fulfilling his promises to the crypto community. He has proposed establishing a “Crypto Advisory Council” to shape crypto policy and has committed to creating a “Strategic Bitcoin Reserve” using government-seized crypto assets.
Trump nominated Atkins for SEC chair after appointing Bitcoin advocate Scott Bessent as Treasury Secretary last month. He also selected Howard Lutnick, a supporter of Bitcoin and stablecoins, as his nominee for Commerce Secretary.
Bettors on Kalshi predicted an 85% likelihood that Atkins will become Trump’s SEC chair.
Michael Motha is the Founder and Managing Director of CryptoNewsOnlineHub and works as a freelance Project Head. He is a dedicated Crypto enthusiast and researcher focusing on blockchain trends, digital assets, and emerging crypto technologies. With academic qualifications in Physics, MBA, and B.Ed from Loyola College, Chennai, he brings clarity to complex crypto topics through insightful content. Outside of crypto, he enjoys blogging, travel, music, and sports such as badminton and tennis.
