Trump plans to nominate Paul Atkins as SEC chairman in a crypto-friendly move

President-elect Donald Trump, keeping his promise of a crypto-friendly administration, plans to nominate former SEC Commissioner Paul Atkins to lead the agency, according to his Truth Social post.

Currently a managing director at Patomak Global Partners, Atkins is a well-known veteran of the financial world and specifically Republican political circles. He was widely expected to get the position as the country’s top financial market regulator.

If confirmed, Atkins would succeed Gary Gensler, a much-maligned figure in the digital currency community for his many efforts to crack down on the $3.5 trillion crypto market. Trump has promised an easier path for bitcoin and its myriad peers, and the market has soared since his November 5 election victory.

Trump’s position on crypto reflects his larger pro-deregulation stance that was prevalent during his first time in office.

Atkins served as an SEC commissioner from 2002-08 under then-President George W. Bush. Prior to that, he had also served other roles in the regulatory body in the division of corporate finance.

Along with taking a pro-crypto stance, the potential nominee was critical of some of the reforms that came out of the 2008 global financial crisis. Specifically, he criticized the Dodd-Frank legislation as too burdensome for the banking sector.

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