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Paul Atkins Gains Traction as Top Contender for SEC Chair

Trump considers Paul Atkins for SEC chair to bring balance to crypto regulations.

3 minNovember 27, 2024

Highlights:

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Paul Atkins is a leading candidate for SEC chair under President Trump.

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Atkins supports innovation-friendly crypto policies and aims to shift regulation focus.

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Trump's administration may move crypto oversight from the SEC to the CFTC for better oversight.

Paul Atkins Gains Traction as Top Contender for SEC Chair

Paul Atkins, a former SEC Commissioner, has emerged as the top candidate for SEC Chair under President-elect Donald Trump’s administration. Atkins is being considered as a potential leader who could restore the SEC’s credibility. 

 

A Shift in Crypto Regulation?

 

 

If Atkins replaces Gary Gensler in January 2025, the U.S. crypto landscape could change dramatically. The potential shift would mean a more innovation-friendly approach to regulation, as many believe the SEC under Gensler has hurt crypto development. 

 

Experts believe Trump’s administration might transfer oversight of digital assets from the SEC to the Commodity Futures Trading Commission (CFTC). Atkins is known for balancing regulatory measures with industry growth, especially in emerging fields like cryptocurrency. 

 

A change in leadership at the SEC could signal the beginning of a new era where crypto regulations focus more on supporting innovation and less on enforcement. Critics argue that Gensler’s aggressive regulatory tactics have hindered crypto companies.

 

The CFTC’s Growing Role

 

Under Trump, the CFTC could play a bigger role in crypto regulation. The agency, led by Chris Giancarlo during Trump’s first term, has been supportive of digital assets. In 2017, the CFTC approved Bitcoin options. 

 

A shift to the CFTC would likely create a more supportive environment for crypto, as the agency has championed digital asset growth compared to the SEC’s more restrictive stance. Atkins’ potential appointment to SEC Chair could be a pivotal moment for crypto regulations in the U.S. 

 

His leadership could strike a balance between the necessary oversight of securities law and fostering innovation. As Gensler’s exit approaches, the crypto community is hopeful that Atkins will guide the SEC toward a more forward-thinking, supportive approach to digital assets.

 

 

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