President-elect Donald Trump's transition team is reportedly considering Paul Atkins, a former SEC commissioner and well-known figure in conservative financial circles, to head the U.S. Securities and Exchange Commission (SEC).
Atkins is a leading candidate to replace outgoing SEC Chairman Gary Gensler, according to people familiar with the talks.
Trump is expected to make a pick for SEC Chairman in the coming days, sources said, although no final decision has yet been made. Other candidates running include current SEC Commissioner Mark Uyeda, former Commodity Futures Trading Commission (CFTC) Chairman Heath Tarbert and Robert Stebbins, a partner at Willkie Farr & Gallagher LLP.
Atkins, who served as a Republican SEC commissioner under President George W. Bush, is known for his support of cryptocurrencies and fintech innovation. After leaving the SEC, he founded Patomak Global Partners, a consulting firm for financial institutions, and testified before Congress advocating for regulatory reform. He called for restructuring the SEC’s operations to minimize what critics see as excessive or unnecessary rules.
Atkins’ pro-crypto stance is in line with Trump’s campaign promise to embrace digital assets, which he has vowed to appoint crypto-friendly regulators, create a strategic Bitcoin reserve and reverse what the Biden administration has described as an “anti-crypto war.”
If appointed, Atkins could signal a shift in the SEC’s approach to digital assets. Trump spokeswoman Karoline Leavitt said the administration is committed to building a strong team, saying: “President-elect Trump has made some brilliant decisions with lightning speed on who will serve in his second administration. He will continue to announce the remaining decisions as they are made.”
Despite potential changes to the SEC’s approach to crypto, the agency is expected to continue to focus on traditional priorities like combating fraud, insider trading, pyramid schemes, and misleading corporate disclosures. Atkins’ extensive regulatory experience and market-friendly perspective suggest he could lead the SEC to balance innovation with investor protection.
*This is not investment advice.
