Donald Trump will appoint Paul Atkins as the new chair of the Securities and Exchange Commission (SEC). Atkins, a former SEC commissioner and CEO of Patomak Global Partners, is well-known for his support of cryptocurrencies and dedication to transparent, common-sense laws. Trump applauded Atkins’ leadership, citing his expertise with the SEC and his involvement in the Digital Chamber’s Token Alliance, where he helped create the future of digital assets.
This decision is part of Trump’s bigger aim to strengthen the cryptocurrency business, which he promised to crypto fans during his campaign. Atkins’ selection would be in stark contrast to the departing chair, Gary Gensler, who has faced criticism from the crypto community for his severe stance on digital assets. Gensler announced his resignation in November, and his departure is likely to clear the door for regulatory changes under new leadership.
The cryptocurrency market reacted warmly to the news of Gensler’s resignation and Atkins’ prospective appointment, with analysts forecasting further market expansion in the following months. The decision has already generated considerable activity, including the submission of multiple exchange-traded fund (ETF) applications by big crypto businesses. Many industry insiders believe that under Atkins, the SEC will take a more friendly stance toward digital assets, bringing an end to what some have dubbed Gensler’s “war” on cryptocurrency.
