President Trump confirms Paul Atkins as top pick for SEC chair

US President-elect Donald Trump has named crypto supporter and former federal regulator Paul Atkins as SEC chairman.

Paul Atkins, a one-time Commissioner of the U.S. Securities and Exchange Commission, has been tapped by President-elect Donald J. Trump to lead the securities agency. “I am pleased to announce the nomination of Paul Atkins as the next Chairman of the Securities and Exchange Commission,” Trump wrote in a Dec. 4 Truth Social post.

The president-elect reinforced his plan to approach SEC regulation differently, describing Atkins as “a proven leader on prudent regulation.”

Crypto supporter Paul Atkins

Atkins founded Patomak Global Partners in 2009 following a seven-year tenure as SEC Commissioner from 2002 to 2008 under former President George W. Bush. According to Patomak’s official website, the consulting firm’s clients include crypto exchanges and decentralized finance operators.

Trump reportedly offered Atkins the SEC chairmanship on December 3. Reports soon after, citing unnamed sources, said Atkins was reluctant to lead the institution following Gary Gensler’s tenure. The nomination requires Senate approval before becoming official.

Washington and Crypto react

Crypto exchanges and Republican policymakers, via X, hailed the news as good for digital assets. Coinbase CLO Paul Grewal expressed his expectations about the potential new SEC boss. Majority Whip Tom Emmer applauded the nomination while criticizing the SEC’s approach under outgoing chairman Gary Gensler.

Retired House Financial Services Committee Chairman Patrick McHenry added that Atkin’s chairmanship would provide “clarity for the digital asset ecosystem.” Gensler announced his intention to resign from the SEC upon Trump’s inauguration on January 20, 2025.

Paul Atkins has extensive public and private sector experience and understands that “regulation through sanctions” is a losing strategy that cripples American innovation.

I look forward to working with him and @realdonaldtrump As we enter a new era of American innovation.

— Tom Emmer (@GOPMajorityWhip) December 4, 2024