Trump Taps Atkins for SEC: A Crypto-Friendly Shift

Donald Trump appoints Paul Atkins to lead the SEC, marking a conservative shift. Atkins, a former SEC commissioner and crypto advocate, succeeds Gary Gensler. His appointment signals potential regulatory easing for crypto firms, aligning with Trump's economic vision. Atkins' capital market insights and previous SEC experience bolster his leadership outlook.

WASHINGTON, Dec 4 (Reuters) - In a significant regulatory shift, U.S. President-elect Donald Trump has announced Paul Atkins as his nomination to head the Securities and Exchange Commission (SEC). A traditional conservative and Washington insider, Atkins brings with him a wealth of experience, having served as an SEC commissioner under President George W. Bush.

Atkins will replace the outgoing chair Gary Gensler, whose tenure was marked by a vigorous regulatory approach that often put him at odds with Wall Street and the burgeoning cryptocurrency sector. Gensler, known for enforcing over 40 rules to enhance transparency and mitigate risks, also initiated multiple lawsuits against crypto firms for alleged regulatory violations.

Atkins is anticipated to adopt a more lenient stance on cryptocurrency regulation than his predecessor. His selection has been positively received by industry executives, who view him as a crypto-friendly advocate. In addition to his leadership at Patomak Global Partners, Atkins has actively participated in shaping digital asset policies as co-chair of the Token Alliance and as an advisory board member of the Chamber of Digital Commerce.

(With inputs from agencies.)