President-elect Donald Trump intends to nominate Paul Atkins, a cryptocurrency advocate and CEO of Patomak Partners, as the chair of the Securities and Exchange Commission (SEC).
What he’s saying: Trump praised Atkins as a “proven leader for common sense regulations” who believes in robust and innovative capital markets that benefit investors and the economy.
- “He believes in the promise of robust, innovative capital markets that are responsive to the needs of Investors, & that provide capital to make our Economy the best in the World,” Trump said on Truth Social. “He also recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before.”
What we’re watching: If confirmed by the Republican-led Senate next year, Atkins would replace Gary Gensler as the chair of the SEC. Gensler recently led the U.S. government’s crackdown on the crypto industry and announced his resignation.
Driving the news: The cryptocurrency industry has seen increased investment since Trump’s election victory, with Bitcoin surpassing $95,000.
- Trump also launched a new venture called World Liberty Financial with family members to trade cryptocurrencies.
