Paul Atkins: A Softer Touch on Crypto for SEC

Paul Atkins, a prominent Washington insider and former SEC official, has been nominated by President-elect Donald Trump to lead the SEC. Known for his de-regulation stance, Atkins is expected to soften approaches on crypto regulations previously implemented under Gary Gensler's chairmanship, drawing praise and caution from industry and progressive groups.

Paul Atkins, a seasoned Washington insider and former SEC official, has been nominated to succeed Gary Gensler as the chair of the SEC by President-elect Donald Trump. Known for advocating de-regulation, Atkins is anticipated to take a more lenient approach to cryptocurrency regulations, signaling relief for Wall Street and the crypto industry.

Unlike many of Trump's cabinet nominees, Atkins brings substantial experience, having served as a commissioner at the SEC and involved in crypto policy-making. Progressive factions remain cautious, fearing that Atkins' pro-industry stance might dismantle investor protections enacted under the Biden administration.

Atkins' nomination reflects a potential shift in SEC's approach, aiming to encourage capital formation and innovation. While industry groups praise the appointment, some critics express concern over the implications of relaxed regulations on shareholder activism and protection.

(With inputs from agencies.)