Donald Trump Considers Paul Atkins as SEC Chair
President-elect Donald Trump is considering Paul Atkins, a seasoned financial regulator and advocate for deregulation, as the next chair of the US Securities and Exchange Commission (SEC), according to sources familiar with the matter.
Leading Candidate for SEC Chair
Atkins, a Republican SEC commissioner during the George W. Bush administration, has emerged as a leading candidate to replace outgoing SEC Chair Gary Gensler. Trump spokesperson Karoline Leavitt praised Trump’s decisions on selecting officials for his administration.
Stance Shift Towards Crypto and Fintech Innovation
Atkins is known for his advocacy for crypto and fintech innovation, signaling a potential pivot from the SEC’s current stance. He has testified before Congress on restructuring the SEC to streamline operations and eliminate redundancies, aligning with Trump’s promise to reduce regulatory burdens. Atkins founded Patomak Global Partners, a consulting firm catering to financial industry clients, known for favoring market-driven innovation.
Regulatory Priorities and Crypto-Friendly Approach
Atkins’ potential appointment represents a broader shift in regulatory priorities, in line with the Trump administration’s crypto-friendly approach. Trump’s campaign promises include establishing a strategic Bitcoin reserve, appointing crypto-supportive regulators, and ending the current administration’s “anti-crypto crusade.” This approach contrasts sharply with Gensler’s enforcement-focused approach, which targeted major crypto firms.
Other Candidates in the Running
Atkins is among several candidates being vetted for the SEC chair role, including Mark Uyeda, Heath Tarbert, and Robert Stebbins. The list also includes Brian Brooks, Dan Gallagher, and Hester Peirce.
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