Key Takeaways
Paul Atkins, identified for his pro-digital belongings stance, is a number one candidate for SEC chair.
Outgoing SEC Chair Gary Gensler’s tenure was marked by aggressive enforcement towards crypto companies.
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President-elect Donald Trump’s transition staff has interviewed Paul Atkins as a candidate to steer the SEC, based on a Bloomberg report.
Atkins, who served beneath President George W. Bush, is amongst a number of contenders for the position, with Trump anticipated to announce his choice within the coming days.
Different candidates into account embrace present SEC Commissioner Mark Uyeda, securities lawyer Teresa Goody Guillén, and Willkie Farr & Gallagher LLP accomplice Robert Stebbins.
“President-Elect Trump has made sensible selections on who will serve in his second Administration at lightning tempo. Remaining selections will proceed to be introduced by him when they’re made,” Trump spokesperson Karoline Leavitt mentioned in a press release.
Atkins, a powerful advocate for digital belongings, has testified earlier than Congress on restructuring the SEC and lowering burdensome rules.
The management change comes as Gensler introduced his January departure, following a tenure marked by aggressive enforcement actions towards crypto companies, significantly after the collapse of FTX alternate.
Trump, who as soon as known as crypto a rip-off, promised to create a strategic Bitcoin stockpile and appoint crypto-friendly regulators.
He has already acted by naming Howard Lutnick, a pro-Bitcoin advocate, as Commerce Secretary and reportedly contemplating Chris Giancarlo, referred to as “Crypto Dad,” for the position of “crypto czar”.
The brand new SEC management is predicted to take care of concentrate on core priorities together with fraud prevention, insider buying and selling enforcement, Ponzi scheme elimination, and oversight of company disclosures.
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