{"id":19215,"date":"2024-12-05T11:45:06","date_gmt":"2024-12-05T09:45:06","guid":{"rendered":"https:\/\/forklog.com\/en\/trump-nominates-paul-atkins-as-sec-chair\/"},"modified":"2024-12-05T11:45:06","modified_gmt":"2024-12-05T09:45:06","slug":"trump-nominates-paul-atkins-as-sec-chair","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/trump-nominates-paul-atkins-as-sec-chair\/","title":{"rendered":"Trump Nominates Paul Atkins as SEC Chair"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>Donald Trump has nominated former SEC commissioner Paul Atkins to lead the agency.<\/li>\n<li>The crypto industry has welcomed the president-elect&#8217;s choice.<\/li>\n<\/ul>\n<\/div>\n<p>U.S. President-elect Donald Trump has officially nominated Paul Atkins as chairman of the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span>. The politician <a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/113595807734621827\">announced<\/a> this on his social media platform, Truth Social.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cPaul is a proven leader in common-sense regulation. He believes in the potential of robust, innovative capital markets that meet investors&#8217; needs and provide capital to make our economy the best in the world,\u201d Trump stated.<\/p>\n<\/blockquote>\n<p>He also highlighted Atkins&#8217; understanding of digital assets. Atkins is a board member of the non-profit organization <a href=\"https:\/\/digitalchamber.org\/about\/team\/\">The Digital Chamber<\/a>, which promotes and lobbies for blockchain technology, bitcoin, and other cryptocurrencies in U.S. political circles.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"367\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Our-Team-The-Digital-Chamber-Google-Chrome-1024x367.jpg\" alt=\"Our-Team-The-Digital-Chamber-Google-Chrome\" class=\"wp-image-246833\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Our-Team-The-Digital-Chamber-Google-Chrome-1024x367.jpg 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Our-Team-The-Digital-Chamber-Google-Chrome-300x108.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Our-Team-The-Digital-Chamber-Google-Chrome-768x275.jpg 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Our-Team-The-Digital-Chamber-Google-Chrome.jpg 1144w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: The Digital Chamber.<\/figcaption><\/figure>\n<p>From 2002 to 2008, Atkins served as an SEC commissioner, where, according to Trump, he \u201cstrongly advocated for transparency and investor protection.\u201d<\/p>\n<p>After leaving public service, the candidate founded and led the consulting firm Patomak Global Partners, whose clients include blockchain industry representatives.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe advise leading crypto companies on risk management and regulatory compliance when launching innovative products. We also serve as trusted advisors to traditional financial firms and Fortune 500 companies on leveraging digital assets for growth,\u201d states the firm&#8217;s <a href=\"https:\/\/patomak.com\/company\/clients-we-serve\/\">website<\/a>.<\/p>\n<\/blockquote>\n<p>According to media reports, Atkins met with Trump for an interview earlier this week. Journalists&#8217; sources indicated that the entrepreneur is not attracted to the SEC chair position due to the workload ahead. He believes the bloated federal agency requires significant reorganization following a period of ineffective leadership under outgoing chairman Gary Gensler.<\/p>\n<p>House Financial Services Committee Chairman Patrick McHenry noted that Atkins has \u201cthe expertise and experience needed to restore faith in the SEC.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Paul Atkins has the expertise and experience needed to restore faith in the SEC.<\/p>\n<p>I\u2019m confident his leadership will lead to clarity for the digital asset ecosystem and ensure U.S. capital markets remain the envy of the world.<\/p>\n<p>\u2014 Patrick McHenry (@PatrickMcHenry) <a href=\"https:\/\/twitter.com\/PatrickMcHenry\/status\/1864373615849881891?ref_src=twsrc%5Etfw\">December 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cI\u2019m confident his leadership will bring clarity to the digital asset ecosystem and ensure U.S. capital markets remain the envy of the world,\u201d the congressman added.<\/p>\n<\/blockquote>\n<p>House Majority Leader Tom Emmer also mentioned Atkins&#8217; experience in both the public and private sectors. According to him, the future SEC chair understands that \u201cregulation by enforcement\u201d is a losing strategy that has stifled innovation in the U.S.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Paul Atkins has extensive public and private sector experience and understands that \u201cregulation by enforcement\u201d is a losing strategy that has crippled American innovation.<\/p>\n<p>I look forward to working with him and <a href=\"https:\/\/twitter.com\/realDonaldTrump?ref_src=twsrc%5Etfw\">@realDonaldTrump<\/a> as we usher in a new era of American innovation.<\/p>\n<p>\u2014 Tom Emmer (@GOPMajorityWhip) <a href=\"https:\/\/twitter.com\/GOPMajorityWhip\/status\/1864368946201153636?ref_src=twsrc%5Etfw\">December 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Atkins&#8217; nomination is subject to Senate approval, which will be controlled by Republicans following the midterm elections.<\/p>\n<p>Senator Cynthia Lummis called the nomination of the new agency chair \u201ca huge win for financial innovation.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Paul Atkins&#8217; nomination as SEC Chair is a huge win for financial innovation. President Trump promised to have the most pro-digital asset admin in U.S. history, and I am looking forward to working with both of them to promote innovation and make our economy strong again<\/p>\n<p>\u2014 Senator Cynthia Lummis (@SenLummis) <a href=\"https:\/\/twitter.com\/SenLummis\/status\/1864392394361196950?ref_src=twsrc%5Etfw\">December 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2 class=\"wp-block-heading\">Community Reaction<\/h2>\n<p>SEC Commissioner Hester Peirce, known as \u201cCrypto Mom,\u201d welcomed Trump&#8217;s choice for the agency&#8217;s leadership.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">We have a lot of work to do at the SEC to advance free markets, capital formation, investor choice, and innovation. I&#8217;m delighted that Paul Atkins will be returning to lead the effort. Having worked for him during his last stint at the agency, I cannot think of a better person\u2026<\/p>\n<p>\u2014 Hester Peirce (@HesterPeirce) <a href=\"https:\/\/twitter.com\/HesterPeirce\/status\/1864428440893735331?ref_src=twsrc%5Etfw\">December 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe have a lot of work to do at the SEC to advance free markets, capital formation, investor choice, and innovation. I&#8217;m delighted that Paul Atkins will be returning to lead the effort. Having worked for him during his last stint at the agency, I cannot think of a better person for this position,\u201d she wrote.<\/p>\n<\/blockquote>\n<p>Her opinion was fully <a href=\"https:\/\/x.com\/brian_armstrong\/status\/1864460253280260273\">endorsed<\/a> by Coinbase co-founder and CEO Brian Armstrong.<\/p>\n<p>John Reed Stark, president of John Reed Stark Consulting, noted that amid Atkins&#8217; nomination, current chairman Gensler quietly promoted three SEC specialists. All were involved in enforcement actions against crypto projects.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">SEC Chair Gensler Pulls Off The First Reverse Saturday Night Massacre . . . <\/p>\n<p>It looks like former SEC Commissioner Paul Atkins will be the next SEC Chair. A phenomenal choice. <\/p>\n<p>But meanwhile, current SEC Chair Gary Gensler is quietly working behind the scenes to lead the SEC\u2026 <a href=\"https:\/\/t.co\/Qx8lWEsJLb\">pic.twitter.com\/Qx8lWEsJLb<\/a><\/p>\n<p>\u2014 John Reed Stark (@JohnReedStark) <a href=\"https:\/\/twitter.com\/JohnReedStark\/status\/1864369186958372969?ref_src=twsrc%5Etfw\">December 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe reality is that the battle for cryptocurrencies seems set to begin after <span data-descr=\"Donald Trump's inauguration day\" class=\"old_tooltip\">January 20<\/span>. So be ready for World War III from day one, Chairman Atkins, because these three lawyers now in power are among the best in the business and won&#8217;t give up easily,\u201d Stark warned.<\/p>\n<\/blockquote>\n<p>Gemini co-founder Cameron Winklevoss called Atkins an excellent choice to lead the agency, which \u201cdesperately needs a reset.\u201d The entrepreneur expressed hope that the new chairman will adhere to a \u201cdo no harm\u201d approach to the crypto industry.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Paul Atkins is a great choice as next Chair of the SEC. The SEC is in dire need of a reset. Instead of protecting investors and fostering innovation, it &#8220;protected&#8221; investors from the likes of bitcoin ETFs and stifled innovation. Atkins will usher in common sense and a do no harm\u2026<\/p>\n<p>\u2014 Cameron Winklevoss (@cameron) <a href=\"https:\/\/twitter.com\/cameron\/status\/1864381549082538044?ref_src=twsrc%5Etfw\">December 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Binance&#8217;s U.S. division also <a href=\"https:\/\/x.com\/BinanceUS\/status\/1864482377264706007\">welcomed<\/a> Atkins&#8217; appointment.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe believe that his integrity and reputation as a fair and sound judgment make him an exceptionally strong advocate for digital assets and the interests of American consumers,\u201d stated Binance.US.<\/p>\n<\/blockquote>\n<p>Ripple CEO Brad Garlinghouse <a href=\"https:\/\/x.com\/bgarlinghouse\/status\/1864397037183111429\">expressed<\/a> hope that the new chairman will bring \u201ccommon sense\u201d back to the agency and end the \u201cera of crypto prohibition.\u201d<\/p>\n<p>Back in December 2020, the company began a legal battle with the SEC. The lawsuit, accusing it of violating securities laws, was filed under Jay Clayton&#8217;s leadership.<\/p>\n<p>Coinbase, Gemini, and Binance faced agency claims during Gensler&#8217;s tenure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Donald Trump has nominated former SEC commissioner Paul Atkins to lead the agency. The crypto industry has welcomed the president-elect&#8217;s choice. U.S. President-elect Donald Trump has officially nominated Paul Atkins as chairman of the SEC. The politician announced this on his social media platform, Truth Social. \u201cPaul is a proven leader in common-sense regulation. He [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19214,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1150,36,128,26],"class_list":["post-19215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-news-plus","tag-regulation","tag-sec","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"50","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/19215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=19215"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/19215\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/19214"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=19215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=19215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=19215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}