President-elect Donald Trump, in line with his commitment to a crypto-friendly administration, intends to nominate former SEC Commissioner Paul Atkins to lead the agency, as reported in a Truth Social post.
Atkins, who currently serves as the CEO at Patomak Global Partners, is a respected figure in the financial sector and Republican political circles. He was widely anticipated to be selected as the country’s top financial market regulator.
If confirmed, Atkins would take over from Gary Gensler, who is widely disliked in the digital currency community due to his efforts to regulate the $3.5 trillion crypto market. Trump’s pledge for a more favorable environment for bitcoin and other cryptocurrencies has led to a surge in the market since his election win on Nov. 5.
In a statement, Trump praised Atkins as a capable leader for implementing sensible regulations that support vibrant, innovative capital markets, responsive to investors’ needs and contributing to making the U.S. economy the strongest globally. He acknowledged the importance of digital assets and other innovations in advancing America’s prosperity.
Trump’s stance on cryptocurrencies aligns with his broader pro-deregulation approach during his previous term in office.
Atkins previously served as an SEC commissioner from 2002 to 2008 during President George W. Bush’s administration. He also held various positions within the regulatory body, notably in the division of corporate finance.
In addition to his pro-crypto views, Atkins has been critical of certain post-2008 financial crisis reforms. He specifically opposed the Dodd-Frank legislation, considering it overly burdensome for the banking industry.
