3 hours ago
President-elect Donald Trump is considering Paul Atkins, a seasoned fiscal regulator and advocator for deregulation, arsenic the adjacent seat of the US Securities and Exchange Commission (SEC), Bloomberg News reported, citing sources acquainted with the matter.
According to the report, Atkins has emerged arsenic a starring campaigner to regenerate outgoing SEC Chair Gary Gensler.
Karoline Leavitt, a Trump spokesperson, said:
“President-elect Trump has made superb decisions connected who volition service successful his 2nd medication astatine lightning pace.”
Stance shift
Atkins, a Republican SEC commissioner during the George W. Bush administration, is simply a vocal advocator for crypto and fintech innovation, marking a imaginable pivot from the SEC’s existent stance.
He has antecedently testified earlier Congress connected restructuring the SEC to streamline its operations and destruct redundancies, aligning with Trump’s run committedness to trim regulatory burdens.
Furthermore, Atkins founded Patomak Global Partners, a consulting steadfast catering to fiscal manufacture clients, cultivating a estimation for favoring market-driven innovation.
Atkins’ imaginable assignment signals a broader displacement successful regulatory priorities, aligned with the Trump administration’s crypto-friendly approach. During his campaign, Trump embraced crypto, promising to found a strategical Bitcoin (BTC) reserve, name crypto-supportive regulators, and extremity the existent administration’s “anti-crypto crusade.”
Notably, the attack of the President-elect medication sharply contrasts with that of Gensler, who will step down connected Jan. 20. He applied a “regulation by enforcement” attack to the crypto industry, cracking down connected large crypto firms specified arsenic Kraken, Coinbase, Binance, and Ripple.
Additionally, blockchain manufacture players assertion that Gensler’s medication failed to springiness regulatory clarity connected what tokens are securities, making it harder to beryllium compliant nether US rules.
Another sanction for the contest
Atkins’ sanction is among respective candidates vetted for the role. Others see existent SEC Commissioner Mark Uyeda, erstwhile Commodity Futures Trading Commission (CFTC) Chair Heath Tarbert, and Robert Stebbins, a Willkie Farr & Gallagher LLP partner.
The database already included erstwhile Binance.US enforcement Brian Brooks, Robinhood’s main ineligible serviceman Dan Gallagher, and SEC Commissioner Hester Peirce.
The station Trump squad interviews erstwhile Commissioner Paul Atkins for SEC seat role appeared archetypal connected CryptoSlate.
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