US President-elect Donald Trump appointed former commissioner of the agency Paul Atkins, who supports the development of the crypto industry in the country, to the post of Chairman of the Securities and Exchange Commission (SEC).

Donald Trump said the agency will be headed by a time-tested “common sense leader in regulation.” Under Paul Atkins’ leadership, he said, the SEC will “advocate for robust and innovative capital markets that respond to investor needs and provide capital to make the U.S. economy the best in the world.”

Atkins is one of the few candidates who has direct ties to the cryptocurrency industry. For example, he serves on the board of advisors for the crypto lobbying company The Digital Chamber, and also co-leads the Token Alliance initiative, aimed at developing “best practices for digital asset issuance and trading platforms.”

In addition, Atkins serves on the advisory board of Securitize, the transfer agent for BlackRock’s Ethereum-based tokenized money market fund. He also co-founded the consulting firm Patomak Global Partners, whose clients include crypto exchanges and DeFi platforms.

Earlier, SEC Chairman Gary Gensler summed up his tenure in this position since 2021 and said that he was pleased with the results of the work done.