Donald Trump Names Paul Atkins as SEC Chair

Crypto News Breaking News

Crypto’s New Champion? Donald Trump Names Paul Atkins as SEC Chair

Written by Aaron S.,

Editor-In-Chief

Last Updated: December 05, 2024

Key Takeaways

Paul Atkins, ex-SEC commissioner, will lead the SEC under Trump, signaling a crypto-friendly shift in US financial regulation;
Trump praised Atkins as a leader in "common sense regulations" and emphasized his vision for advancing digital asset innovation;
As co-chair of the Token Alliance, Atkins has championed best practices for digital assets and supports fostering crypto innovation.

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Crypto’s New Champion? Donald Trump Names Paul Atkins as SEC Chair

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Paul Atkins, currently leading the financial consultancy Patomak Global Partners as CEO and a former commissioner of the Securities and Exchange Commission (SEC), has been selected by President-elect Donald Trump to chair the regulatory agency.

Atkins, previously appointed by President George W. Bush, served a six-year term at the SEC and is seen as a crypto-friendly alternative to the current Chair, Gary Gensler.

During his time at the SEC, Atkins was noted for his critical examination of the agency's enforcement actions and decision-making procedures, advocating for "better transparency and consistency," as highlighted by the Federalist Society, a conservative legal organization.

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In a post on Truth Social, Trump said that Atkins is "a proven leader for common sense regulations". The president-elect also added:

He also recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before.

As co-chair of the Token Alliance, an initiative launched in 2017 by the Digital Chamber of Commerce to "promote and help shape the responsible growth" of token sales, Atkins "has led industry efforts to develop best practices for digital asset issuances", according to his profile on Patomak Global Ventures' website.

Atkins expressed enthusiasm for cryptocurrencies, calling them a "new and exciting asset class" and showing eagerness to use his regulatory knowledge to "help foster the ecosystem".

Atkins’ appointment highlights the growing influence of pro-crypto voices in shaping US policy. Recently, another pro-crypto figure, Howard Lutnick, joined Trump’s cabinet as Commerce Secretary. What role will Lutnick play in advancing blockchain innovation? Read the full story.