Speculation on Trump Announcing Paul Atkins as SEC Chair

Former SEC Commissioner Paul Atkins is being closely watched as Donald Trump’s potential nominee for the SEC leadership. President-elect Trump is expected to announce his choice for SEC Chair this week. Some insiders suggest that Atkins might be reluctant to accept the appointment.

Since the beginning of this week, Paul Atkins, a former commissioner of the U.S. Securities and Exchange Commission, has been considered by Trump for the SEC Chair position. This is seen as positive news for the cryptocurrency world, as Atkins, besides having extensive experience in finance and capital markets (having served as a commissioner for six years), is also viewed as a supporter of cryptocurrency.

Trump to Appoint SEC Chair This Week: All Eyes on Atkins

According to reliable sources from Fox Business, Trump will reveal his choice for the SEC leadership on Tuesday. However, the green light for former commissioner Atkins seems bright, with many believing he is suitable for the job and beneficial for the cryptocurrency industry.

Since his election, President-elect Trump is known for making significant updates, including appointments on his social media platform Truth Social before releasing them to mainstream media. Therefore, without a Truth Social post confirming Atkins’ appointment, this news remains a rumor.

Amidst the wild speculation, Fox Business’s Charles Gasparino shared the reaction of Trump’s transition team members on the matter:

“The President-elect might have written the press release, but like everything with Trump, you can’t be sure until you see it on his Truth Social.”

Reportedly, Atkins met with Trump earlier this week at Mar-a-Lago, where he interviewed for the SEC Chair position with the President-elect.

Before Atkins’ potential appointment gained momentum, other candidates included SEC Commissioner Mark Uyeda, Robinhood’s Chief Legal Officer Dan Gallagher, and Wilkie Farr & Gallagher’s Robert Stebbins.

Atkins Reportedly Reluctant to Accept the Job

According to an interaction between CoinDesk’s Christine Lee and a source close to the former commissioner, Atkins might be somewhat hesitant to accept the SEC Chair appointment under the Trump administration.

Following the mismanagement of the agency by former SEC Chair Gary Gensler, the former SEC executive gave up his consulting business and began the cleanup work, which was a significant sacrifice.

A source indicated that upon becoming SEC Chair, Atkins would automatically resign from his business roles, and the business’s future without him remains uncertain.

In 2009, Atkins founded Patomak Global Partners and served as CEO. The financial services consulting firm provides clients with regulatory compliance, public affairs, risk and crisis management, litigation, and many other services.

Before Patomak, Atkins gained extensive experience working under several committee chairs as staff and commissioner. He first served under two former SEC Chairs, Richard Breeden and Arthur Levitt.

From 2002 to 2008, he served under three SEC Chairs until his term ended.

Regarding Atkins’ stance on cryptocurrency, several industry thought leaders, including attorneys Jeremy Hogan and John Deaton, have praised him as a potential SEC Chair favorable to the industry.

Hogan rated his appointment to the digital asset industry as a “B+” due to his advocacy for practical and reasonable regulation, especially concerning exchanges. The attorney added that while Atkins might not spontaneously implement cryptocurrency policies as expected, he would make “prudent and thoughtful changes.”

Sentiment: Positive