- Paul Atkins may soon be appointed the SEC’s new chairman by Donald Trump.
- Market expectations for Paul Atkins’ leadership have risen beyond 90%, indicating his reputation as a pro-crypto regulator.
Donald Trump may announce his choice for the new chair of the US SEC tomorrow. Eleanor Terrett, FOX Business journalist, disclosed this information.
Reports are indicating that Trump may select Paul Atkins. Atkins has worked as the former SEC Commissioner under President George W. Bush.
There is a high chance he could replace Gary Gensler. Both Wall Street and the crypto sector are abuzz with expectations of a potential shift in regulatory direction.
Could Pro-Crypto Paul Atkins Become the Next SEC Chair?
On January 20, 2025, Donald Trump is scheduled to take the oath of office as president. With Gary Gensler leaving his position as US SEC Chair, that will be a momentous time for the SEC.
His leadership brought numerous enforcement actions against crypto entities for fraud and registration violations. However, he also approved both spot and futures Bitcoin and Ethereum ETFs.
These moves garnered him mixed reactions. Gensler’s critics have often accused his approach of stifling innovation. That sparks calls for a pro-crypto successor.
“Trump has chosen Paul Atkins, a pro-crypto trailblazer, to lead the SEC—marking a massive win for the crypto industry. Atkins, known for his forward-thinking stance on digital assets, promises to deliver clear, innovation-friendly regulations that could finally put the U.S. at the forefront of global crypto leadership,” Mario Nawfal posted on X (formerly Twitter).
Reports suggest that President-elect Trump has reached out to Atkins, though a formal response has yet to be made public. Paul Atkins is widely recognized for advocating regulatory clarity and fostering innovation. Also, he emphasized a vision earlier this year at a Federalist Society event.
Meanwhile, Robinhood’s Chief Legal Officer, Dan Gallagher, was once a favored contender. However, he has stepped back to focus on his commitments at Robinhood.
This shift has further solidified Atkins as the front-runner for the SEC leadership. That raised hopes for a more innovation-friendly regulatory environment under his potential stewardship.
Ripple’s Chief Legal Officer, Stuart Alderoty, has shared a forward-thinking roadmap for overhauling crypto regulation. His post on X emphasized the need for clarity and fairness.
His proposals primarily include expedited resolutions for non-fraud crypto cases. He wishes to foster closer collaboration between the SEC and Congress. Furthermore, he aims to implement reforms to boost transparency in regulatory processes.
Alderoty’s vision aligns with the aspirations of many within the crypto community. Those are optimistic that a new US SEC chair could usher in a more constructive approach to oversight.
Kalshi Gives Paul Atkins a 93% Chance to Be Trump’s SEC Chair Pick
Prediction platform Kalshi shared on December 3 that Paul Atkins’s ****chances of being nominated as the next SEC chair surged to 93%. Atkins leads the pack, surpassing potential candidates like former acting comptroller Brian Brooks and ex-SEC attorney Teresa Goody Guillen.
Currently, Trump has not confirmed any SEC chair appointment via Truth Social. That is his favored platform for significant announcements.
If Atkins is selected, his nomination would need formal submission in January. He would also require subsequent approval from the US Senate.
Who is Paul Atkins, and Why is He a Key Figure For Change in Crypto Regulation?
Paul Atkins served as an SEC commissioner from 2002 to 2008 under Presidents George W. Bush and Bill Clinton. He is a prominent advocate for crypto innovation and regulatory clarity.
He is currently leading Patomak Global Partners. It is a consultancy that advises banks, crypto firms, and trading platforms. The Atkins is recognized for championing balanced, forward-thinking policies that promote market growth and emerging technologies.
Trump’s potential choice of Atkins aligns with his campaign pledge to support cryptocurrency innovation. The president-elect, then, vowed to establish clear regulatory guidelines.
How Are the Crypto Market’s Expectations Shaping Up for the New SEC Chair?
Paul Atkins is expected to adopt a cooperative approach after being appointed. That can entail giving clear compliance rules more importance than applying harsh penalties.
Crypto industry stakeholders are optimistic that his leadership will foster a balance between innovation and regulation. It will encourage businesses to remain or return to the US market.
Under Atkins’ guidance, regulatory clarity could see advancements like approving spot Solana ETFs and similar crypto offerings. Moreover, his approach may end the prolonged legal battles against major firms such as Ripple, Coinbase, Binance, and Kraken.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.