Former commissioner! Trump wants Atkins to be the SEC chairman, but he doesn't seem interested in taking the blame.

Trump eyes former SEC commissioner to reorganize regulatory agencies

According to the foreign media UNCHAINED, the incoming US President Trump is considering appointing Paul Atkins as the new chairman of the US Securities and Exchange Commission (SEC). Atkins, who served as a commissioner at the SEC during President George W. Bush's tenure, is currently the CEO of Patomak Global Partners LLC and has extensive experience in the financial regulatory industry. According to multiple sources, Trump has locked in Atkins as the nominee, which not only reflects Trump's reorganization of financial regulation, but also demonstrates his strategic consideration of cryptocurrency regulation policies.

During his tenure as an SEC commissioner (2002 to 2008), Atkins established an outstanding professional reputation. He is renowned for his deep understanding of financial regulations and rich experience in the securities industry, making him an ideal candidate to lead the SEC. In addition to serving as the CEO of Patomak Global Partners, he currently also serves as an independent director and non-executive chairman of BATS Global Markets, demonstrating his diverse professional background in the financial industry.

Image source: Bloomberg. US President-elect Trump is considering appointing Paul Atkins as the new chairman of the US Securities and Exchange Commission (SEC).

Hesitate to give up private business for cleaning up regulatory chaos

However, according to sources close to Atkins, he is reserved about taking on the role of SEC chairman. As the CEO of a company specializing in Financial Service, regulatory Compliance, and crisis management consulting, Atkins seems reluctant to give up his current successful private business. Insiders pointed out that he may need to wait for the company to be ready for operation before considering leaving his current position.

It is worth noting that Atkins' hesitation in taking over the SEC is partly due to his belief that the current SEC institution is huge and poorly managed. Former CFTC Chairman Chris Giancarlo publicly stated that cleaning up the 'mess' left by current SEC Chairman Gary Gensler would be a daunting task. This viewpoint also reflects Atkins' own hesitation in taking on the role. Completely reversing the current operation mode of the SEC requires a significant amount of effort and resources, which undoubtedly presents a difficult choice for Atkins, who has already found success in the private sector.

The cryptocurrency community looks forward to a new era of encryption. The prospects for the appointment still remain uncertain.

Although Atkins has a good reputation in the cryptocurrency industry and has actively supported its development, it is still unknown whether he will ultimately accept this appointment. Since 2017, Atkins has been the co-chair of the Digital Chamber of Commerce Token Alliance and has provided regulatory advice to digital financial companies through his consulting firm, demonstrating his continued attention to the crypto assets industry.

Industry insiders expect that if Atkins is nominated, he may bring a more innovative and supportive regulatory direction for the SEC. Washington experts generally believe that the Trump administration may reduce the SEC's regulation of the $3 trillion digital asset market and instead support the Commodity Futures Trading Commission (CFTC) in regulation. The CFTC is considered to take a more relaxed approach to regulation because its regulated market is mainly composed of mature institutional traders.

It is worth noting that the Trump team has communicated with leaders in the encryption industry, and the betting odds on Kalshi predict a 69% likelihood of Atkins taking over. However, the final appointment still needs to be confirmed by the Senate, and the encryption community is eagerly awaiting the next move by the SEC regulatory agency. Currently, one of the five seats on the SEC will also become vacant after Jamie Lizárraga's resignation, further adding to the uncertainty of the future development of the regulatory agency.

Image source: Kalshi. Users predict who will succeed as SEC chairman, with Paul Atkins leading by 69%.

As a former commissioner who served at the SEC, Atkins enjoys a high reputation in conservative circles. He has a good relationship with Scott Bessent, the Treasury Secretary nominee appointed by Trump, which also increases the possibility of his appointment. However, as of now, Atkins himself remains silent on whether he will accept the position of SEC Chairman, and the entire appointment process is still pending.

The article was first published in 'encryption city' where he served as a committee member! Trump wants Atkins as SEC chairman, but he seems uninterested in taking over the mess.