President-elect Donald Trump is considering pro-crypto Paul Atkins for the position of SEC Chair, signaling a potential shift toward a more crypto-friendly regulation

December 3, 2024, - President-elect Donald Trump has selected Paul Atkins, a former commissioner of the U.S. Securities and Exchange Commission (SEC), to serve as the agency's next chair.

Atkins was spotted at Trump's Mar-A-Lago resort this week. He was scheduled to have a talk for the SEC chair role on Sunday and Monday.

He served as an SEC commissioner from 2002 to 2008 under President George W. Bush, is recognized for his pro-innovation stance and support for the cryptocurrency industry.

Atkins' potential appointment aligns with the incoming administration's intent to adopt a more industry-friendly regulatory approach, particularly concerning digital assets.

This marks an important shift from the tenure of outgoing SEC Chair Gary Gensler, who announced his resignation effective January 20, 2025. Gensler's leadership was characterized by rigorous enforcement actions against crypto entities, including high-profile lawsuits against major exchanges.

The selection of Atkins suggests a potential reorientation of the SEC's policies toward fostering innovation within the financial sector, especially in the realm of cryptocurrencies. This development has been well-received by industry stakeholders anticipating a more supportive regulatory environment under Atkins' leadership.

Atkins' appointment is subject to Senate confirmation. If confirmed, his leadership is expected to influence the future regulatory landscape of the U.S. financial markets.

Paul S. Atkins is an American attorney and financial services consultant with extensive experience in securities regulation.

He served as a Commissioner of the U.S. Securities and Exchange Commission (SEC) from 2002 to 2008, appointed by President George W. Bush.

Prior to his role at the SEC, Atkins worked at Davis Polk & Wardwell in New York, focusing on corporate transactions, including securities offerings and mergers and acquisitions. He also served as a partner at PricewaterhouseCoopers, advising financial services firms on regulatory compliance and risk management.

After leaving the SEC, Atkins founded Patomak Global Partners, a consulting firm specializing in financial services industry matters such as regulatory compliance, risk management, and strategy. He has also served as an independent director and non-executive chairman of the board of BATS Global Markets, Inc.

Atkins holds an A.B. from Wofford College and a J.D. from Vanderbilt University School of Law, where he was Senior Student Writing Editor of the Vanderbilt Law Review.