Trump Nominates 'Friendly to Cryptocurrency' Paul Atkins for US SEC Chair

On the 3rd (local time), the cryptocurrency news specialist X (formerly Twitter) account db reported that "Donald Trump, the former US President, nominated Paul Atkins, known for his friendly stance towards cryptocurrency, as the next chairman of the US Securities and Exchange Commission (SEC)."

Atkins, who served as an SEC commissioner from 2002 to 2008 under the George W. Bush administration, is the founder of the consulting firm Patomak Global Partners, which primarily serves financial institutions. He has been recognized for his cryptocurrency-friendly stance in the industry.

Atkins is also a strong supporter of digital assets and fintech companies, advocating in Congress for the restructuring of SEC operations and discussing ways to reduce overlapping or excessively complex regulations.

In the industry, there has been ongoing criticism that the SEC, under Gensler's leadership, is not clearly defining regulations and is establishing them through enforcement. If Trump regains power, such practices are expected to change.

Trump has promised supporters to appoint a regulatory environment friendly to cryptocurrency and to end the government's 'anti-cryptocurrency movement' upon taking office.

Under the guidance of the new SEC appointee, the SEC is expected to continue focusing on basic tasks such as fraud prevention, speeding up internal transactions, preventing Ponzi schemes, and restricting the disclosure of misleading or false information.

On the other hand, Atkins's leadership is expected to provide a more innovative environment for US cryptocurrency regulations, and there is a possibility that the current critical view of the SEC leadership's remaining authority will change.