Trump nominates Paul Atkins, cryptocurrency advocate, as SEC chairman

On Wednesday, President-elect Donald Trump nominated Paul Atkins, ex-commissioner of the Securities and Exchange Commission (SEC), to assume the chairmanship of this independent agency and replace Gary Gensler, who will leave office on presidential inauguration day. The decision, made official through a posting on Truth Social, ends weeks of speculation about the SEC's future leadership.

"Paul is a proven leader for common sense regulations. He believes in the promise of robust, innovative capital markets that are responsive to the needs of Investors, & that provide capital to make our Economy the best in the World," Trump wrote.

The president-elect also highlighted Atkins's stance toward cryptocurrencies and other technological innovations, calling them crucial elements for the country's economic growth. This approach represents a significant shift from Gensler's stewardship, which adopted a strict policy toward the digital asset industry during his tenure.

A change in direction at the SEC

Atkins, founder of financial consulting firm Patomak Global Partners and co-chair of the Digital Camera Token Alliance, is recognized for supporting innovation in the digital asset ecosystem. His nomination has been welcomed by the industry, which had expressed dissatisfaction with the outgoing administration's policies.

Kristin Smith, executive director of the Blockchain Association, praised the choice, noting that "the past four years under Chair Gensler was a non-stop anti-crypto crusade, leading to an innovation stalemate and incalculable job, talent, and economic losses." Smith expressed optimism about Atkins' leadership, noting his experience and commitment to the sector's development.

Political and economic support

The appointment also won the endorsement of political figures such as Patrick McHenry, outgoing chairman of the House Financial Services Committee. In a post on X, McHenry said Atkins "has the expertise and experience needed to restore faith in the SEC" and generate regulatory clarity for digital assets.

Impact on markets

The expectation of a more favorable administration toward cryptocurrencies under Trump has significantly boosted the price of bitcoin, which is currently trading near $96,000. The promise to make the United States the "crypto capital of the planet" has sparked optimism in the sector.