Donald Trump

Gary

<ul>
 <li aria-level="1">Donald Trump nominates Paul Atkins as SEC Chair, aligning with his crypto-friendly campaign promises and industry expectations.</li>
 <li aria-level="1">Atkins, former SEC commissioner and crypto advocate, contrasts Gary Gensler’s stringent regulatory enforcement with a pro-growth stance.</li>
</ul>
President-elect Donald Trump has appointed Paul Atkins as the next chair of the Securities and Exchange Commission (SEC), fulfilling a commitment made to the cryptocurrency community during his campaign.&nbsp;
Atkins, a known advocate for less restrictive regulatory approaches, previously served as an SEC commissioner under President George W. Bush. His nomination is seen as a significant shift from the current SEC chair, <a href="https://www.ethnews.com/gary-genslers-departure-from-the-sec-and-potential-replacements-a-new-era-for-crypto-regulation/" rel="noopener noreferrer nofollow">Gary Gensler</a>, who is known for his stringent enforcement policies regarding cryptocurrency regulations.
Atkins is awaiting confirmation by the Senate. He has been active in the <a href="https://www.ethnews.com/trumps-balancing-act-mandating-dollar-trade-while-proposing-a-bitcoin-reserve/" rel="noopener noreferrer nofollow">cryptocurrency sector</a>, including a leadership role at the Token Alliance of the Digital Chamber of Commerce and as the chief executive of Potomak Global Partners, a consultancy advising crypto finance companies on regulatory matters since 2009.&nbsp;
His approach contrasts sharply with Gensler’s, who has frequently pursued enforcement actions against crypto companies for what the SEC deemed non-compliance with existing securities laws.
During his campaign, <a href="https://www.ethnews.com/dollar-dominance-at-risk-trumps-economic-ultimatum-to-brics-nations/" rel="noopener noreferrer nofollow">Trump promised </a>to foster a regulatory environment conducive to technological innovation within the cryptocurrency industry.&nbsp;
He proposed establishing clearer guidelines for the industry, setting up a crypto advisory council, and creating a national bitcoin strategic reserve. These initiatives are part of a broader strategy to position the United States as a leading global player in cryptocurrency innovation.
<blockquote>
 “There was never a commissioner at the history of the commission that was more respectful and thankful of the staff at the commission,” said John Reed Stark
</blockquote>
The choice of Atkins reflects the crypto community’s preference for a regulatory framework that supports industry growth while ensuring compliance with relevant laws. Atkins’ history suggests he may favor a more measured approach to regulation that could facilitate innovation while maintaining necessary industry oversight.
This appointment indicates a potential shift towards more supportive and collaborative regulatory practices that could have significant positive implications for the cryptocurrency industry in the United States.
The post <a href="https://www.ethnews.com/goodbye-gensler-hello-atkins-what-this-means-for-your-crypto-investments/" rel="noopener noreferrer nofollow">Goodbye Gensler, Hello Atkins: What This Means for Your Crypto Investments</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.

Goodbye Gensler, Hello Atkins: What This Means for Your Crypto Investments

ETHNews

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