Trump Nominates Paul Atkins to Replace Gary Gensler at SEC
President-elect Donald Trump has named Paul Atkins, a crypto advocate, as the new SEC Chairman following Gary Gensler's resignation.
What's the Scoop?
- Atkins, a former SEC commissioner under George W. Bush, has supported digital assets and regulatory reform.
- His appointment follows Trump’s 2024 election victory, which spiked Bitcoin’s price due to optimism about favorable policies.
Bankless Take
Paul Atkins' appointment could reshape the U.S. regulatory landscape for crypto, moving away from enforcement-heavy approaches that have dominated under Gensler. His support for digital assets signals a focus on fostering innovation and creating clear, industry-friendly guidelines. This change could accelerate institutional adoption and attract global crypto firms to the U.S., reversing a trend of regulatory uncertainty driving innovation offshore. However, balancing market growth with protecting retail investors will be a critical point for Paul Atkins to focus on.
It's impossible to express the magnitude of the shift we're likely to see at an SEC run by Paul Atkins.
— Jake Chervinsky (@jchervinsky) December 4, 2024
Crypto has literally never existed without the overhang of uncertainty or hostility from US regulators.
This moment is a regulatory singularity before a new era for crypto 💫