President-elect Trump Nominates Pro-Crypto Paul Atkins to Lead SEC
President-elect Donald Trump has nominated Paul Atkins, a former SEC commissioner known for his support of crypto, to lead the US Securities and Exchange Commission (SEC), Unchained Crypto reported Tuesday, citing three sources familiar with the matter.
Confirmation Pending
Trump is awaiting Atkins’ confirmation on whether he will accept the offer. If Atkins declines, Trump will select another candidate for the role. However, if Atkins accepts, the nomination will be subject to Senate confirmation.
Pro-Crypto Stance
Paul Atkins, who previously served as an SEC commissioner during the George W. Bush administration, has been an active supporter of the crypto sector since leaving the commission. He has co-chaired the Token Alliance at the Digital Chamber of Commerce and provided regulatory advice to digital finance firms through his consultancy, Potomak Global Partners.
“Senate Republicans really respect the tradition of Commissioner Paul Atkins,” said George Mason University professor J.W. Verret, a former SEC Advisory Committee member.
Pro-Innovation Approach
Under Gary Gensler’s leadership, the SEC has pursued enforcement actions against cryptocurrency entities. If Atkins becomes SEC chair, he is expected to bring a pro-innovation and pro-crypto approach to the agency.
“There was never a commissioner in the history of the commission that was more respectful and thankful of the staff at the commission,” John Reed Stark, who worked with Atkins at the SEC in 2008, praised his leadership style.
Industry Input
Before making the decision, Trump’s transition team consulted with crypto industry leaders for their input on the chairperson position. This move reflects Trump’s commitment to the crypto community.
Fulfilling Promises
Trump has proposed the establishment of a “Crypto Advisory Council” and committed to creating a “Strategic Bitcoin Reserve.” These initiatives align with his support for the crypto industry.
Recent Appointments
Prior to nominating Atkins for SEC chair, Trump appointed Bitcoin advocate Scott Bessent as Treasury Secretary and selected Howard Lutnick, a supporter of Bitcoin and stablecoins, as his nominee for Commerce secretary.
Predictions
Bettors on Kalshi predict an 85% likelihood that Atkins will become Trump’s SEC chair, reflecting the industry’s confidence in his pro-crypto stance.