Donald Trump Nominates Pro-Crypto Paul Atkins as SEC Chair

After several weeks of speculation, United States President-elect Donald Trump has nominated Paul Atkins, CEO of Patomak Global Partners LLC, to succeed Gary Gensler as the next chairman of the United States Securities and Exchange Commission (SEC).

In a December 4 post on Truth Social, Trump expressed excitement at announcing crypto-friendly Atkins as the next SEC chair.

“Paul is a proven leader for common sense regulations. 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. He also recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before,” Trump said.

Who Is Paul Atkins?

Atkins served as the commissioner of the US SEC under President George Bush from 2002 to 2008. During his tenure, he strongly advocated for transparency and protecting investors. Atkins worked on and studied the crypto sector when serving as the co-chair of Digital Chamber’s Token Alliance since 2017. He is the founder and incumbent CEO of Patomak Global Partners, a risk management consultancy.

Meanwhile, this is just one of the few major steps for Atkins to become the next SEC chair. While Trump has nominated him for the role, the proposal still needs a Senate vote.

Gary Gensler Announces Departure

If the vote goes in favor of Atkins, he will succeed Gary Gensler, who has been known for his hostile stance towards the crypto sector. Late last month, Gensler said he would step down as SEC chair on the same day as Trump’s inauguration, which is scheduled for January 20, 2025.

Atkins’ nomination aligns with Trump’s promise to fire Gensler on his first day in office and appoint a pro-crypto candidate to lead the SEC. Gensler’s five-year term at SEC was supposed to run until 2026.

Meanwhile, the global crypto market reacted positively to this development, with the market cap rising 3% to reach $3.55 trillion.