Paul Atkins Leading SEC Chairman
Date: 2024-11-28 Author: Gabriel Deangelo Categories: IN WORLD
Atkins remains the front-runner to take over the job from Gary Gensler in January 2025, according to Fox Business reporter Eleanor Terrett, who reported on Platform X. Atkins is seen as a top pick for President-elect Donald Trump, who has previously said he would fire Gensler on his first day in office.
Gensler, the current SEC chairman, has announced his resignation and will step down on January 20.
Atkins, known for his support of innovation, could be Gensler’s successor. He served as an SEC commissioner from July 9, 2002, to August 2008, and served under two chairmen, Richard S. Breeden and Arthur Levitt.
According to the Mar-a-Lago report, sources close to Trump’s transition team say crypto expert Atkins is a leading candidate.
Atkins is expected to support the innovation agenda that the Trump administration and the Republican Party are planning to push. For many, this will be a logical step after four years of Gensler’s administration, which were widely criticized. Gensler was accused of an aggressive regulatory policy based on lawsuits, which caused discontent in the industry.
In addition, Gensler’s leadership failed to provide clear guidelines for the crypto industry. However, under his leadership, the SEC initiated numerous cases against crypto companies, several of which ended in defeat in US courts.
The crypto market has surged since Trump’s victory. Bitcoin has risen to almost $100,000, and altcoins like XRP have continued to rise amid news of Gensler’s resignation.
Additional stimulus for the market came from reports that the Trump administration plans to appoint the first “cryptocurrency curator” in US history.
