Trump Officially Nominates Pro-Crypto Paul Atkins as SEC Chair

Dec 4, 2024, 05:56 PM

President-elect Donald Trump has nominated Paul Atkins as the new Chair of the Securities and Exchange Commission (SEC), according to multiple reports and an announcement on Truth Social. Atkins, who served as an SEC Commissioner from 2002 to 2008 under President George W. Bush, is known for his pro-cryptocurrency stance and support of innovation in financial markets. He has been dubbed a 'crypto enthusiast' and co-chairs the Token Alliance at the Digital Chamber of Commerce since 2017. Atkins is also on the advisory board for Securitize. Trump described Atkins as 'a proven leader for common sense regulations' who 'believes in the promise of robust, innovative capital markets.' Atkins is expected to replace current SEC Chair Gary Gensler, signaling a potential shift toward a more crypto-friendly regulatory environment. The appointment fulfills Trump's promises to promote the cryptocurrency industry and reduce regulatory burdens.