Donald Trump has chosen Paul Atkins to be the chairman of the US SEC, reports RBC Crypto with reference to journalists blog UnChained. A source familiar with the discussion clarified that Trump has already contacted Atkins and is waiting for him to agree.
Bloomberg previously wrote about Atkins’ likely candidacy, calling him the main candidate to replace Gary Gensler, who will leave the post of SEC chairman on January 20, the day of Trump’s inauguration.
Atkins served as the SEC’s Republican commissioner during the George W. Bush administration before founding a consulting firm for large financial clients. He is considered a strong advocate of digital assets and fintech companies. He also testified before Congress about ways to restructure the SEC and reduce the agency’s regulatory enforcement.
Market participants expect the new Trump administration to have a softer attitude towards cryptocurrency regulation. The SEC is the main exchange regulator in the United States, which, under the leadership of Gensler, has repeatedly sued and fined representatives of the American crypto business, including the largest players at the level of the Coinbase or Kraken exchanges, for millions of dollars. In the summer, during a speech at the Bitcoin 2024 crypto conference in Nashville, Trump promised to fire Gensler “first thing” if he wins the election.
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Source: Cryptocurrency
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