Who is Paul Atkins, Donald Trump’s pick for SEC chairman?

President-elect Donald Trump has chosen Paul Atkins to exchange Gary Gensler as chairman of the Securities and Change Fee (SEC). As soon as Gensler steps down on January 20, many count on an abrupt change inside the world’s strongest and best-staffed securities regulator.

What ought to the crypto group count on beneath Atkins’ management, assuming he accepts Trump’s nomination?

For starters, the man has earlier expertise within the SEC, so he can skip the introduction and get straight to work. Atkins served on the SEC employees from 1990 to 1994. Years later, he earned a promotion to one of many SEC’s 5 commissioner seats and served from August 2002 to August 2008.

Outdoors of the SEC, Atkins additionally labored in Massive Regulation on the prestigious Davis Polk & Wardwell, the place he assisted corporations with mergers, acquisitions and securities choices. Atkins additionally assisted with compliance and regulatory investigations.

Learn extra: Gary Gensler and SEC investigated alleged politically biased hiring

Goodbye Gary Gensler, hiya Paul Atkins

The brand new chairman of the SEC has libertarian, pro-crypto views on regulation. Atkins was co-chair of the Token Alliance, an altcoin-friendly division of the Digital Chamber of Commerce that offers with political communications. He additionally based Potomak International Companions, a consultancy for digital finance corporations.

Paul Atkins’ earlier expertise as a lawyer features a stint working in white-collar catastrophe cleanup. The Bennett Funding Group was a billion-dollar leasing firm that ran one of many largest Ponzi schemes in American historical past. After it imploded, Atkins assisted the court-appointed receiver by bringing in Bennett’s sole remaining subsidiary as disaster president. There Atkins was in a position to stabilize the subsidiary’s funds.

As a pro-crypto and libertarian-minded lawyer with many years of expertise in Washington DC, Trump’s alternative of Paul Atkins may increase hopes that the brand new White Home administration might be friendlier to digital belongings.

Outgoing Chairman Gary Gensler made himself an enemy of the digital asset trade by regulating by means of enforcement, failing to stop the FTX fiasco, and failing to call for years which crypto belongings are and usually are not securities.

Regardless of Trump presently being the best choice for SEC management, reviews point out that Atkins has not but accepted the appointment.

If Atkins declines, different high candidates for the SEC chairmanship embrace Hester Pierce, Brian Brooks, Chris Giancarlo, Heath Tarbert and Dan Gallagher.

Paul Atkins was subsequent Protos’ unique checklist of doubtless successors to Gary Genslerprinted on November 7.