financemagnates.com
President-elect Donald Trump has chosen Paul Atkins, a former SEC commissioner with a strong pro-crypto stance, to lead the Securities and Exchange Commission. Atkins, known for advocating for clearer and more consistent oversight, is seen as a figure poised to steer the agency toward less restrictive policies, especially for digital assets.
The crypto community has welcomed Atkins' appointment, describing it as a win for the digital asset sector, which has been pushing for clear regulations. On social media X, top executives from major crypto companies expressed their delight at having Atkins at the helm of the commission. The nomination is now awaiting the approval of the Senate.
Brad Garlinghouse, the CEO of Ripple Labs, a cryptocurrency that has long been at loggerheads with the commission, welcomed the appointment, saying it brings common sense back to the agency. Garlinghouse has long been a critic of the commission for adopting stringent regulations for digital assets.
An outstanding choice – Paul Atkins at the helm of the SEC will bring common sense back to the agency. Along with Hester Peirce and Mark Uyeda, it’s time to swiftly and definitively end the prohibition era on crypto, restoring freedom of choice, economic growth, and innovation. https://t.co/w8Rqrnubyj
— Brad Garlinghouse (@bgarlinghouse) December 4, 2024
“An outstanding choice – Paul Atkins at the helm of the SEC will bring common sense back to the agency. Along with Hester Peirce and Mark Uyeda, it’s time to swiftly and definitively end the prohibition era on crypto, restoring freedom of choice, economic growth, and innovation.”
Paul Atkins brings a wealth of experience to the role of SEC Chairman, having previously served as a commissioner under President George W. Bush for six years. Known for his focus on regulatory transparency, Atkins criticized the SEC's enforcement activities and advocated for policies that balance investor protection with market innovation.
Cameron Winklevoss, another top industry executive whose crypto exchange Gemini has also been a target of tough crypto regulation, also approved Atkin’s selection, describing it as a great choice. Early last year, the SEC charged Gemini and Genesis for reportedly offering crypto lending products under Gemini Earn, which the regulator alleged to be unregistered securities.
Paul Atkins is a great choice as next Chair of the SEC. The SEC is in dire need of a reset. Instead of protecting investors and fostering innovation, it "protected" investors from the likes of bitcoin ETFs and stifled innovation. Atkins will usher in common sense and a do no harm…
— Cameron Winklevoss (@cameron) December 4, 2024
“Paul Atkins is a great choice as the next Chair of the SEC. The SEC is in dire need of a reset. Instead of protecting investors and fostering innovation, it "protected" investors from the likes of bitcoin ETFs and stifled innovation. Atkins will usher in common sense and a do-no- harm approach,” Winklevoss also opined on X.