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President-elect Donald Trump has reportedly named a new chair for the U.S. Securities and Exchange Commission (SEC). Trump picked pro-crypto Paul S. Atkins, a former SEC commissioner, for the role. Earlier, the crypto community was abuzz on who would succeed Gary Gensler and pinned their hopes on Atkins, who has garnered significant support within Trump’s circle.
Donald Trump’s Taps Paul Atkins to Lead SEC
Three sources close to Trump have revealed that he has chosen Atkins to take over SEC leadership after January 20 as Gensler is slated to resign then. However, Atkins is yet to accept the offer, according to a report by Unchained.
According to FOX Journalist Charles Gasparino, Atkins is well-regarded by President-elect Donald Trump and his advisers, making him a top contender for the role. A transition team member shared that Atkins “has been an adviser to Trump and his team and is highly respected.”
However, despite the strong backing, there have been indications that Atkins previously expressed reluctance to take on the position. He has repeatedly cited the success of his private practice. Nonetheless, insiders have revealed his renewed interest in government positions.
People close to Atkins suggest that his perspective on public service may have evolved. “Atkins has achieved significant success in the private sector and may now be considering a return to government service,” Gasparino noted.
A Look At Atkins’ SEC History & Private Ventures
Atkins currently serves as the CEO of Patomak Global Partners LLC, a consultancy specializing in financial services, regulatory compliance, and crisis management. Additionally, he is an independent director and non-executive chairman of the board for BATS Global Markets, a key operator in U.S. and European equity trading platforms.
For further context, Atkins’ tenure as an SEC commissioner from 2002 to 2008 under President George W. Bush is seen as a significant credential for the role. His expertise in financial regulation and his extensive experience in the securities industry have positioned him as a strong candidate to lead the agency at a critical time.
The timing of the announcement comes as the crypto industry watches closely. The appointment of the next SEC chair is viewed as pivotal for shaping the regulatory framework for digital assets. The industry has long sought clearer guidelines, and Atkins’ potential leadership could bring a fresh approach to the agency’s regulatory agenda.
While Atkins has remained silent on the matter, speculation continues to grow about his appointment. Trump’s latest decision not only determines the agency’s direction but also signals the administration’s priorities for financial regulation.
A pro-crypto leadership under Atkins could be fruitful for crypto firms under the SEC scrutiny right now. Hence, Ripple, Coinbase, Binance, Uniswap, and others could be relieved of the legal trouble that has persisted for years now.