Paul Atkins Considered for SEC Chair Role
A lot of stars would need to align for Paul Atkins, reportedly president-elect Donald Trump’s top candidate to chair the U.S. Securities and Exchange Commission, to take the job.
According to sources, Atkins is hesitant to take on the role due to the extensive work required to revamp the agency, which he believes was poorly managed by outgoing SEC chair Gary Gensler.
Former Commodity Futures Trading Commission chair Chris Giancarlo, who has advocated for Atkins to lead the SEC, shares similar concerns about cleaning up Gensler’s perceived “mess.”
Atkins, the founder and CEO of Patomak Global Partners, a consulting firm specializing in strategy, risk management, and regulatory compliance, has a diverse client base that includes crypto firms. However, sources indicate that Atkins is reluctant to leave his current practice to take on the SEC chair position, as it would require him to resign from his business interests.
Other Potential Candidates
In addition to Atkins, other candidates under consideration for the SEC chair role include crypto attorney Teresa Goody Guillén, Binance co-founder Changpang Zhao, and Cardano creator Charles Hoskinson.
Former acting Comptroller of the Currency Brian Brooks, Circle Chief Legal Officer Heath Tarbert, Brad Bondi, and former SEC investment management director Norm Champ are also reportedly being considered for the position.
Trump’s pick for Manhattan’s U.S. attorney, Jay Clayton, has endorsed attorneys Robert Stebbins and Dalia Blass, although they have faced criticism from the crypto community for their handling of SEC enforcement actions.
Republican SEC commissioner Mark Uyeda may serve as acting chair if Gary Gensler steps down before a permanent replacement is confirmed by the Senate. Commissioner Hester Pierce has expressed disinterest in the chair role, potentially boosting Uyeda’s chances of assuming the position.
Washington experts suggest that the Trump administration may shift SEC oversight of the digital assets market to the CFTC, which is perceived to have a lighter regulatory approach due to its focus on institutional traders.
The selection process for the next SEC chair is expected to conclude soon, with the crypto community closely monitoring the outcome.