Trump Team Considers Pro-Crypto Paul Atkins for SEC Chair, Weighs CFTC Oversight for Crypto

Nov 27, 2024, 05:49 PM

President-elect Donald Trump’s transition team is reportedly considering Paul Atkins, a former SEC commissioner, as a leading candidate to replace Gary Gensler as SEC Chair. Atkins, known for his pro-crypto stance and advocacy for innovation in financial technology, has been interviewed for the role. He has a background in blockchain and cryptocurrency, including co-chairing the Token Alliance. Sources suggest Atkins has a 60% chance of being appointed, according to Kalshi. His potential appointment signals a possible shift in the SEC’s regulatory approach towards a more crypto-friendly direction, which could ease regulatory pressures on digital assets and fintech companies. Additionally, the Trump administration is considering transferring cryptocurrency oversight to the CFTC.