Chair

Biden

Read

Donald Trump

<p><strong>Key Points:</strong></p>  
<ul class="wp-block-list">
 <li><em>Donald Trump has nominated Paul Atkins, a crypto advocate, to lead the SEC.</em></li>  
 <li><em>The new SEC Chair attributes the collapse of FTX partly to rigid U.S. regulations.</em></li> 
</ul>  
<h5 class="wp-block-heading">According to <em><a href="https://www.bloomberg.com/news/articles/2024-12-10/trump-s-pick-for-sec-chair-blamed-the-us-for-ftx-crypto-disaster" target="_blank" rel="noopener noreferrer nofollow">Bloomberg</a></em>, Paul Atkins, Donald Trump's pick to head the SEC, has inflamed controversy by blaming U.S. government policy for the collapse of FTX, the crypto exchange founded by Sam Bankman-Fried.</h5>  
<figure class="wp-block-image aligncenter size-large"><a href="https://coincu.com/wp-content/uploads/2024/12/On-White-3-1.jpg" rel="noopener noreferrer nofollow"><img src="https://coincu.com/wp-content/uploads/2024/12/On-White-3-1-1024x576.jpg" alt="New SEC Chair Criticizes US Crypto Crackdown Under Biden" class="wp-image-296276"></a>
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<p class="has-background" style="background-color:#222222">Read more: <a href="https://coincu.com/292402-gary-gensler-resignation-likely-before-trump/" target="_blank" rel="noopener noreferrer nofollow"></a><a href="https://coincu.com/295287-new-sec-chair-appointed-by-donald-trump/" rel="noopener noreferrer nofollow"></a><a href="https://coincu.com/wp-admin/post.php?post=295287&amp;action=edit" rel="noopener noreferrer nofollow">New SEC Chair Appointed by Donald Trump</a></p>  
<h2 class="wp-block-heading" id="new-sec-chair-criticizes-u-s-crypto-policies">New SEC Chair Criticizes U.S. Crypto Policies</h2>  
<p>The FTX collapse, which revealed fraudulent activities within the firm, led to a wave of bankruptcies throughout the digital asset industry that cost investors billions.</p>  
<p>Atkins is a former commissioner with the SEC and is chief executive of Patomak Global Partners, a Washington consulting firm that was listed as a creditor in <a href="https://coincu.com/293520-ftx-liquidator-transfers-ray-worth-millions/" target="_blank" rel="noopener noreferrer nofollow">FTX</a>'s bankruptcy. The firm advised FTX through an agreement in January 2022, several months before the exchange blew up. It also lobbied on behalf of FTX, court filings show.</p>  
<p>On a podcast last year, the new SEC Chair pointed the finger at what he called U.S. regulatory rigidity for driving crypto innovation and companies. He blasted the SEC for its enforcement-first attitude and praised the Token Safe Harbor Act, a proposal from SEC Commissioner Hester Peirce.</p>  
<p>The act would give developers of decentralized networks a grace period before being subject to federal securities laws. Peirce, a former colleague, had strong support for Atkins' nomination, calling him an ideal choice for the role.</p>  
<h2 class="wp-block-heading" id="trump-s-pick-signals-potential-shift-in-sec-crypto-oversight">Trump's Pick Signals Potential Shift in SEC Crypto Oversight</h2>  
<p>Atkins endorsement by <a href="https://coincu.com/295541-president-elect-trump-is-fueling-new-crypto-wave/" target="_blank" rel="noopener noreferrer nofollow">Trump</a> is sure to indicate some shift to a pro-crypto policy. That would be in stark contrast to the wide-ranging crackdown of the Biden administration after the failure of FTX. Now, there is a president who had previously been ambivalent toward digital currencies, encouraging the development of an onshore environment within the United States for crypto firms.</p>  
<p>The new SEC Chair will have to be confirmed by the Senate and will take over from the current SEC Chair, <a href="https://coincu.com/293303-sec-chair-gary-gensler-will-lose-power/" target="_blank" rel="noopener noreferrer nofollow">Gary Gensler</a>, as he steps down on January 20. Such leadership would potentially mark a significant shift from Gensler's strict regulatory posture.</p>  
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    <td><em><strong>DISCLAIMER</strong>:&nbsp;The information on<a href="https://coincu.com/" rel="noopener noreferrer nofollow"> this website</a> is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.</em></td>
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</figure>  <a href="https://coincu.com/?p=296251" rel="noopener noreferrer nofollow">Read original article on coincu.com</a>

New SEC Chair Criticizes US Crypto Crackdown Under Biden

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