Speculative reports suggest that President-elect Donald Trump has chosen pro-cryptocurrency candidate Paul Atkins to lead the United States Securities and Exchange Commission (SEC) under his administration. However, Atkins has not yet officially accepted the role. Paul Atkins served as SEC commissioner under President George W. Bush from 2002 to 2008.
The new SEC chairman has not yet been officially confirmed
As TinTucBitcoin previously reported, Trump is likely to announce the name of the new SEC chairman this week. Many influential people in the industry have stated that Trump today officially proposed to Atkins.
If appointed, Atkins is expected to promote policies that encourage growth in the cryptocurrency sector, contrasting with Gary Gensler’s more stringent regulatory approach.
“Trump has chosen Paul Atkins, a pioneer cryptocurrency advocate, to lead the SEC—marking a major win for the industry. Atkins, known for its forward-thinking views on digital assets, promises clear, innovation-friendly regulations that could finally catapult the United States to global leadership in cryptocurrency ,” Mario Nawfal posted on X (formerly Twitter).
Atkins has also strongly criticized the SEC’s lawsuit against Ripple and XRP. He even propose that there were inconsistencies in the lawsuit and that Gensler could withdraw the lawsuit. However, the current SEC chairman remains steadfast in his decision to examine the altcoin, which has significantly impacted its market performance over the years. Gensler announced his resignation last month and will leave the position in January.
“Trump has selected pro-crypto Paul Atkins to chair the Securities and Exchange Commission (SEC), according to three sources familiar with the discussions. XRP to 10 USD is my goal! Goodbye GARY, Welcome Ripple PUMP,” said influencer Oscar Ramos write on X.
Despite many rumors, some sources still believe that it is unlikely that Atkins will accept the offer. Currently, he has many business interests and becoming SEC chairman would require him to relinquish those positions. This may not be an attractive offer for someone who has led the SEC for five years.
“Many people are asking me if the reports of Paul Atkins being selected to be the next SEC Chairman are true. I will say this: Not confirmed until we see official announcement from Donald Trump,” FOX Business reports Eleanor Terrett write on X.
However, speculation has begun to impact the cryptocurrency market. XRP has increased 1.5% in the past hour, to $2.57. Notably, the RSR Reserve Rights Token has increased nearly 30% since the news. Reports indicate that Atkins has served on RSR’s advisory board.
Overall, the official chairman of the SEC has not yet been confirmed. It seems likely that whoever replaces Gary Gensler could renew the agency’s stance on cryptocurrencies and positively change the US regulatory landscape.