Donald Trump May Appoint Paul Atkins as SEC Chairman
Date: 2024-12-04 Author: Oliver Abernathy Categories: BUSINESS
Bitcoin has surged above $95,500 following the announcement of Paul Atkins’ possible appointment as the new SEC chairman. Sources say President Donald Trump has chosen Atkins to replace outgoing Chairman Gary Gensler.
Atkins, a known supporter of the cryptocurrency industry, could be the end of Gensler’s aggressive policies over the past four years. Gensler announced his resignation ahead of Trump’s inauguration in January, sparking a positive reaction from blockchain advocates who were unhappy with his anti-cryptocurrency measures.
Crypto forums and social media are welcoming Atkins’ possible appointment, noting his support from industry leaders. His leadership is expected to lead to a more favorable environment for the cryptocurrency market in the U.S. under the Trump administration.
Atkins has been considered a frontrunner in recent weeks, with Trump's team even reaching out to him to discuss the offer. However, according to Coindesk, Atkins is currently hesitant to accept the job. He is reluctant to deal with the problems left behind by Gensler, a sentiment echoed by former Commodity Futures Trading Commission Chairman Chris Giancarlo, who has also been mentioned as a possible candidate.
If Atkins declines the job, other crypto industry veterans could be in the running for the position, including former Binance U.S. CEO Brian Brooks and securities expert Teressa Goody Guillen. Former SEC official and Robinhood Markets lawyer Dan Gallagher was previously on the list, but he dropped out of the race last month. Current SEC commissioners Mark Ujeda and Hester Peirce were also mentioned, but cryptocurrency attorney Jake Chervinsky believes Trump will likely appoint a new person.
