Trump nominates Paul Atkins as SEC chair

 President-elect Trump has nominated former Securities and Exchange Commissioner (SEC) Paul Atkins to replace outgoing chair Gary Gensler when he departs on Inauguration Day.  

“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 in a Truth Social post Wednesday.  

The nomination caps off weeks of speculation over who will head up the independent agency following Gensler’s announcement last month he would step down from the post once Trump is sworn into office.  

“He also recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before,” the president-elect added.  

His nod to Atkins’ embrace of cryptocurrency is the latest signal the incoming Trump administration is expected to be much more friendly to the crypto industry than Gensler, who took a more hardline approach.   

Trump was widely expected to pick a more crypto-friendly candidate after fully embracing the industry during his campaign. Despite previously dismissing crypto as a “scam,” he vowed to make the U.S. the “crypto capital of the planet.” 

Atkins, CEO and founder of financial services consultancy Patomak Global Partners, currently serves as co-chair of the Digital Chamber’s Token Alliance. 

The crypto industry celebrated his nomination Wednesday. Blockchain Association CEO Kristin Smith touted Atkins an “excellent choice.” 

“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 said in a statement. 

“Paul Atkins will offer a new perspective, anchored by a deep understanding of the digital asset ecosystem,” she continued. “We look forward to working with him in his role as SEC chair and ushering in – together – a new wave of American crypto innovation.” 

Outgoing House Financial Services Chairman Patrick McHenry (R-N.C.) similarly highlighted the digital assets industry in celebrating Atkins’ pick. 

“Paul Atkins has the expertise and experience needed to restore faith in the SEC,” McHenry wrote in a post on X. “I’m confident his leadership will lead to clarity for the digital asset ecosystem and ensure U.S. capital markets remain the envy of the world.” 

https://thehill.com/business/5022203-trump-nominates-paul-atkins-as-sec-chair/