The next chairman to replace Gary Gensler will be Paul Atkins. Atkins is a pro-crypto, former US Securities and Exchange Commission commissioner.
Unchained’s latest report claims that Trump reached out to former SEC Commissioner.
Paul Atkins has not yet officially announced his choice.
Laura Shin, cryptojournalist and host of Unchained, broke the news on X, Dec. 3,
Scoop: Trump nominates Paul Atkins as the next SEC chair, making good on his crypto promises Atkins was vocal about his support for the industry. He also served under George W. Bush as the first libertarian SEC commissioner. by @vronirwin (link in next tweet)
Trump eyes Paul Atkins as SEC chairperson
This news comes after reports that Trump would be selecting a replacement for Gensler, who is leaving his position as the head of the Securities and Exchange Commission.
Gensler’s departure was announced two weeks ago. He had become increasingly unpopular during his tenure with the SEC.
The exiting SEC chairman noted in his announcement that he will be stepping aside on January 20, 2020 – when Trump becomes the 47 th President of the United States.
Trump also promised that Gensler would be fired “on the first day” of his presidency. After Gensler’s resignation, attention focused over the last few weeks on his replacement.
Atkins was the SEC Commissioner between 2002-2008 and is widely considered to be a crypto candidate.
Donald Trump’s selection means that the new administration will be eager to get the crypto industry moving after Gensler was plagued by a “regulation through enforcement” strategy.
Crypto news from the US
There are lawsuits filed against individuals, crypto exchanges and companies.
The SEC has claimed that the XRP coin is a security.
Other lawsuits are against Coinbase and Kraken and Binance and Wells Notices have been issued against NFT platform OpenSea and Trading Platform Robinhood.
Atkins’ possible approval as the new SEC chairman is one of many early positive signs from the Trump Team that the US crypto market may experience a different future in the coming four years.
The US is also planning to establish a Bitcoin Strategic Reserve.
Bitcoin has soared to nearly $100,000 since Trump’s victory.
Since Gensler’s departure, XRP is on an upswing and has increased by more than 400% over the last 30 days.
The report Trump chooses Paul Atkins as SEC chair Gary Gensler may change as new developments unfold
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