Quick take:
Gensler will leave office on January 20, when Trump is sworn in as the 47th President of the U.S.
Atkins is viewed as a pro-crypto candidate for the position having co-chaired the Token Alliance at the industry group Digital Chamber of Commerce since 2017.
The nomination aligns with Trump’s pre-election promises that advocated for a pro-crypto America.
President Donald Trump has nominated former Commissioner of the U.S. Securities and Exchange Commission Paul Atkins to replace Gary Gensler as the new SEC Chair.
Writing on the Truth Social platform, the U.S. president-elect said: Paul is a proven leader for common sense regulations. He believes in the promise of robust, innovative capital markets that are responsive to the needs of Investors, & that provide capital to make our Economy the best in the World. He also recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before.”
Trump also went on to highlight Atkin’s experience in the digital asset industry, specifically referencing his position at the Digital Chamber’s Token Alliance, where he has been a co-chairman since 2017. “He has worked on & studied the digital assets industry,” added Trump.
This won’t be Atkin’s first time serving in the U.S. securities regulatory agency, having served as a commissioner under the George W. Bush Administration from 2002 to 2008, with his commitment to “transparency and protecting investors,” also highlighted in Trump’s statement.
This announcement comes barely a week after the current SEC Chair Gary Gensler announced he will be leaving office on January 20, the same day Trump will be sworn in as the 47th President of The United States.
Atkin’s nomination aligns with Trump’s pro-crypto campaign that saw him receive huge backing from the crypto community.
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