Trump intends to appoint Paul Atkins as SEC chair in a pro-crypto decision.

Trump intends to appoint Paul Atkins as SEC chair in a pro-crypto decision.
Trump intends to appoint Paul Atkins as SEC chair in a pro-crypto decision.

According to his Truth Social post, President-elect Donald Trump intends to appoint former SEC Commissioner Paul Atkins as the head of the agency in keeping with his pledge for a crypto-friendly administration.

Atkins, a well-known veteran of the financial world and Republican political circles, was widely expected to become the nation's top financial market regulator.

Gary Gensler, a widely criticized figure in the digital currency community for his efforts to regulate the $3.5 trillion crypto market, would be succeeded by Atkins if confirmed. Trump has pledged to make it easier for bitcoin and its peers, and the market has surged since his election victory on Nov. 5.

Trump's stance on crypto is consistent with his pro-deregulation views, which were prominent during his first term in office.

From 2002 to 2008, Atkins served as SEC commissioner under President George W. Bush. Prior to that, he held other positions at the regulator body in the division of corporate finance.

The prospective nominee, while advocating for crypto, criticized the Dodd-Frank legislation as too restrictive on the banking industry.

This is breaking news. Please check back for updates.

by Jeff Cox

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