Trump has chosen Paul Atkins to serve as chairman of the U.S. Securities and Exchange Commission (SEC), according to three people familiar with the matter. One source said Trump has contacted Atkins and is waiting for his acceptance. A spokesperson for Atkins did not immediately respond to a request for comment.
Current SEC Chairman Gary Gensler will leave office on January 20. In addition, Atkins will need to be confirmed by the Senate unless Trump chooses to recess the appointment while the Senate is not in session.
Paul Atkins, a former SEC commissioner during the George W. Bush administration, is known for opposing "high fines for companies that violate securities laws." He has always supported the crypto industry and is still working at Patomak Global Partners, the consulting firm he founded in 2009. At the same time, since 2017, he has also served as co-chairman of the Token Alliance, an industry association that advocates for the digital asset and blockchain industry. (Unchained Crypto)