Donald Trump

President Donald Trump

<p class="is-style-lead">Bitcoin rebounded above $95,500 after President Donald Trump selected Paul Atkins as the new chair of the U.S. Securities and Exchange Commission.</p>
<p>President-elect Donald Trump is reportedly set on naming former SEC Commissioner Paul Atkins to replace outgoing chair Gary Gensler at the top of the federal securities watchdog, according to sources with inside knowledge on the matter.</p>
<p>Atkins has been a vocal supporter of the crypto industry, and many believe he could stem the scorched earth approach employed by the SEC during chair Gensler’s four years in charge. Ahead of Trump’s January inauguration, Gensler announced his <a href="https://crypto.news/anti-crypto-gary-gensler-to-resign-from-sec-when-trump-takes-office/" target="_blank" rel="noopener noreferrer nofollow">resignation</a>, much to the delight of blockchain proponents who felt hard done by his anti-crypto litigation agenda.</p>
<p>The general crypto social media consensus suggested that Atkins is well endorsed by industry leaders, who expect fresh SEC leadership under Trump’s administration.</p>
<p>Atkins was named as Trump’s <a href="https://crypto.news/former-commissioner-paul-atkins-is-top-candidate-for-sec-chair/" target="_blank" rel="noopener noreferrer nofollow">preferred</a> pick for the position over the past few weeks, and the President’s team even contacted the ex-SEC official to discuss the role. However, Atkins is hesitant to accept Trump’s offer, Coindesk <a href="https://www.coindesk.com/policy/2024/12/03/trumps-top-sec-chair-pick-paul-atkins-reluctant-to-take-job-source" target="_blank" rel="noopener noreferrer nofollow">reported</a>.</p>
<p>Insiders reportedly noted Atkins was reluctant to undo Gensler’s mess, a stance shared by former Commodity Futures Trading Commission chair Chris Giancarlo, who was also mentioned as a possible SEC chair candidate.</p>
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   <p lang="en" dir="ltr">As for reports that I’m in mix to run <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@SECGov</a>, I’ve made clear that I’ve already cleaned up earlier Gary Gensler mess <a href="https://twitter.com/CFTC?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@CFTC</a> and don’t want to have do it again. DC rumors that I’m interested in some <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#crypto</a> role <a href="https://twitter.com/USTreasury?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@USTreasury</a> are also wrong.</p>— Chris Giancarlo (@giancarloMKTS) <a href="https://twitter.com/giancarloMKTS/status/1857074616373584127?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 14, 2024</a>
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<p>You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/former-commissioner-paul-atkins-is-top-candidate-for-sec-chair/"> Former commissioner Paul Atkins is top candidate for SEC chair </a></p>
<p>Should Atkins refuse the appointment, at least two other crypto-savvy candidates have been mentioned in the mix. Former Binance U.S. CEO Brian Brooks and securities law expert Teressa Goody Guillén were <a rel="noopener noreferrer nofollow" href="https://crypto.news/trump-favors-crypto-lawyer-and-former-sec-attorney-teresa-goody-guillen-to-head-sec/">named</a> as potential options.&nbsp;</p>
<p>EX-SEC official and Robinhood Markets CLO Dan Gallagher was also in contention before <a href="https://crypto.news/robinhoods-dan-gallagher-declines-sec-leadership-role/" target="_blank" rel="noopener noreferrer nofollow">dropping</a> out of the pool last month. Current SEC Commissioners Mark Uyeda and Hester Peirce were floated as potential Gensler replacements, but crypto lawyer Jakes Chervinsky downplayed the chances. Chervinsky thinks President Trump would rather appoint a new official.</p>
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   <p lang="en" dir="ltr">Very low, only because I don’t think she wants the job. I’d give decent odds to Uyeda, although I expect Trump may prefer to bring in someone new of his own.</p>— Jake Chervinsky (@jchervinsky) <a href="https://twitter.com/jchervinsky/status/1854146813801967835?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 6, 2024</a>
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<p>Despite uncertainty over Atkins’s decision, the industry is confident that Trump will nominate a pro-crypto official as his SEC chair when he takes office next month. The President and his transition team have also <a href="https://crypto.news/trumps-team-vets-for-first-white-house-crypto-role/" target="_blank" rel="noopener noreferrer nofollow">explored</a> appointing the first U.S. crypto czar to spearhead digital asset policy in Washington.</p>
<p>Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/bitcoin-exchange-holdings-decline-to-multi-year-low-report/"> Bitcoin exchange holdings decline to multi-year low: report </a></p>

Donald Trump may tap Paul Atkins as SEC chair

crypto.news

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