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President-elect Donald Trump announced Wednesday that it plans to appoint cryptocurrency advocate Paul Atkins to chair the Securities and Exchange Commission.
Trump said Atkins, the CEO of Patomak Partners and a former SEC commissioner, was a “proven leader in the rule of law.”
“They believe in the promise of strong, innovative markets that meet the needs of Consumers, & that finance our economy to be the best in the world. They also recognize that the digital economy & other innovations are essential to making America Greater Than Ever,” Trump wrote on Truth Social.
The commission oversees US securities markets and businesses.
If confirmed next year by the new Republican-led Senate, Atkins will replace Gary Gensler as the chairman of the committee. Gensler, who has been leading the US government to crackdown on the crypto industry, he announced last month that he will step down on the day Trump is inaugurated – January 20, 2025.
Trump, once a skeptic, has promised to make the US “m crypto capital of the world” and creating a “storage system” for bitcoin. Money poured in crypto assets since they won. Bitcoin, the largest cryptocurrency, is now above $95,000.
Crypto industry players welcomed Trump’s victory in the hope that he would continue the legislative and regulatory reforms they have long advocated.
Trump also founded World Liberty Financial, a the new and relatives to sell cryptocurrencies.
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