Trump Nominates 'Pro-Cryptocurrency' Paul Atkins as SEC Chairman

Expected Easing of Cryptocurrency Regulations

Donald Trump, the President-elect of the United States, nominated Paul Atkins, a former SEC commissioner with a pro-cryptocurrency stance, as the chairman of the Securities and Exchange Commission (SEC) for his second administration set to begin in January next year, on the 4th (local time).

On the same day, Trump announced this through his social networking service (SNS) Truth Social, describing former commissioner Atkins as a "proven leader for sensible regulation." He added, "He will respond to strong economic growth and investor demands," and explained, "He believes in innovative capital markets that provide the capital necessary to make our economy the best in the world and the promise of solid economic growth."

Atkins served as an SEC commissioner from 2002 to 2008 and has been co-chair of the Token Alliance at the Digital Chamber of Commerce since 2017. He founded Potomac Global Partners, a consulting firm with financial institutions as major clients.

He is especially known as a strong supporter of digital assets and fintech (finance + technology) companies. Previously, he testified before Congress advocating for the coordination of SEC operations and the reduction of overlapping regulations or burdensome rules on the industry. It is expected that he will significantly ease related regulations in line with Trump’s campaign promise of pro-cryptocurrency policies. When announcing Atkins’ nomination, Trump emphasized, "He understands well that digital assets and other innovations are crucial to making America greater than ever."

The New York Times (NYT) reported that Atkins’ firm, Potomac, "has recently been advising clients on issues related to cryptocurrency and digital assets."