The Name on Trump's Mind: A Crypto-Friendly President Set to Lead the SEC

After the U.S. presidential election, Donald Trump plans to nominate Paul Atkins, a crypto-friendly figure, for the position of chairman of the Securities and Exchange Commission (SEC).

According to sources close to the Trump administration, it has been reported that Trump has extended an offer to Atkins and is awaiting his acceptance. This move is interpreted as Trump’s effort to fulfill the promises made to the crypto community during his campaign.

Paul Atkins served as a commissioner at the SEC during George W. Bush's administration and has become a significant figure in the crypto sector. Since 2017, he has been co-chair of the Token Alliance at the Digital Chamber of Commerce, recognized for his expertise and advisory services in the crypto space.

The Gensler era is coming to an end.

Current SEC Chairman Gary Gensler announced that he would resign following Trump's inauguration on January 20. Gensler has faced criticism for his tough stance on crypto market regulations and conflicts with the crypto industry. For the new presidency, Atkins will need to obtain Senate approval, but there is also speculation that Trump may consider a mid-term appointment while the Senate is on recess.

If Atkins takes office, it is believed he will strive to make U.S. crypto policies more transparent, addressing uncertainties in the sector. In this context, some relief and a positive atmosphere are particularly observed in the altcoin markets. Speculations that the SEC may shift to a crypto-friendly approach under Atkins' leadership have led to significant price increases for cryptocurrencies such as XRP, BNB, and XLM.

The influence of Paul Atkins on the crypto market

Reports of Paul Atkins being appointed as SEC chairman have resonated positively in the market. The potential changes Atkins could bring continue to attract the interest of crypto-friendly initiatives and investors. This development, closely monitored by ETF specialists and crypto market analysts, is regarded as a promising step for the future of cryptocurrencies.

During his tenure at the SEC, Atkins stood out as a commissioner who operated from a libertarian perspective and is known for his innovative approach and crypto expertise. The crypto world anticipates a more robust and transparent regulatory framework through such leadership.