{"id":25654,"date":"2024-12-04T10:02:50","date_gmt":"2024-12-04T10:02:50","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=25654"},"modified":"2024-12-04T10:02:50","modified_gmt":"2024-12-04T10:02:50","slug":"donald-trump-picks-crypto-ally-paul-atkins-as-next-sec-chair","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=25654","title":{"rendered":"Donald Trump Picks Crypto Ally Paul Atkins As Next SEC Chair"},"content":{"rendered":"

Former President Donald Trump has reportedly selected Paul Atkins, a crypto advocate and former SEC commissioner, <\/span>as his choice<\/span> to lead the Securities and Exchange Commission (SEC). <\/span><\/p>\n

Three anonymous sources have <\/span>reportedly confirmed the pick<\/span><\/a> to the crypto-focused outlet Unchained, though Atkins has yet <\/span>to formally accept the position<\/span>. <\/span><\/p>\n

Currently, Atkins is the CEO of Patomak Global Partners, a consulting firm specializing in strategy and risk management.<\/span><\/p>\n

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EXPLORE: <\/span>Coinbase To Cut Ties With Law Firms Linked To Former SEC Officials, Armstrong Promises<\/span><\/a><\/em><\/p>\n

Trump Asks Atkins To Take On The Role<\/span><\/h2>\n

One source cited by Unchained said Trump, who <\/span>has<\/span> previously expressed ambitions to make the U.S. a global leader in cryptocurrency, <\/span>has<\/span> asked Atkins to take on the role.<\/span><\/p>\n

However, a spokesperson for Trump\u2019s transition team stated that \u201cremaining decisions will continue to be announced by him when they are made.\u201d<\/span><\/p>\n

Meanwhile, there have been reports that Atkins may be hesitant to accept the offer. A source familiar with Atkins has suggested that the prospect of leading the SEC is \u201can unattractive role for him because of the amount of work needed to turn around the bloated agency.\u201d<\/span><\/p>\n

Atkins served as an SEC commissioner from 2002 to 2008, and his background aligns closely with the cryptocurrency industry.<\/span><\/p>\n

His biography on Patomak Global Partners\u2019 website highlights his work with the Token Alliance<\/span>, a crypto advocacy group, where<\/span> he has been <\/span>involved in<\/span> developing best practices for digital asset issuances and trading platforms since 2017.<\/span><\/p>\n

If confirmed, Atkins\u2019 appointment could represent a seismic shift in the SEC\u2019s regulatory stance toward cryptocurrency. <\/span><\/p>\n

Trump has selected the pro-crypto Paul Atkins to chair the SEC, according to three sources familiar with the discussions. <\/p>\n

One source specified that Trump has reached out to Atkins but is waiting on him to accept.https:\/\/t.co\/qszH4xX454<\/a><\/p>\n

\u2014 db (@tier10k) December 3, 2024<\/a><\/p>\n\n

Under the Biden administration, outgoing SEC Chair Gary Gensler took a stringent approach to the crypto industry, initiating enforcement actions against several high-profile companies and projects. <\/span><\/p>\n

Trump has been critical of Gensler\u2019s policies, promising during his campaign to fire him \u201con day one.\u201d However, Gensler pre-empted this move by announcing his resignation, effective January.<\/span><\/p>\n

Trump\u2019s appointment of Atkins could come through Senate approval or, potentially, a recess appointment. <\/span><\/p>\n

George Mason University professor J.W. Verret told Unchained that Atkins enjoys significant respect among Senate Republicans, describing him as a \u201cunique\u201d libertarian voice during his time as an SEC commissioner.<\/span><\/p>\n

The crypto market has responded positively to Trump\u2019s election. Bitcoin surged on optimism about a more favorable regulatory environment. <\/span><\/p>\n

Trump has also pledged to establish a national Bitcoin reserve and create a crypto advisory council, attracting significant interest from major industry players<\/span><\/p>\n

EXPLORE: <\/span>SEC Sues Crypto Mining Company Touzi Capital For $115 Million Fraud<\/span><\/a><\/strong><\/p>\n

SEC\u2019s Aggressive Stance Against Crypto<\/span><\/h2>\n

The SEC has taken a\u00a0tougher\u00a0stance against crypto firms in 2024. More specifically, the regulator\u00a0<\/span>imposed nearly $4.7 billion<\/a>\u00a0in enforcement actions against crypto companies, a 3,018% increase from 2023.<\/p>\n

The fines include forfeitures, disgorgement, civil penalties, settlements, and prejudgment interest, calculated from the time the SEC initiated each case.<\/p>\n

The agency also\u00a0faced a barrage of criticism<\/a> during a\u00a0congressional hearing\u00a0on Wednesday,\u00a018 September\u00a02024.\u00a0This came as a predominantly critical witness panel voiced\u00a0their concerns over the\u00a0agency\u2019s regulatory approach\u00a0towards digital assets.<\/p>\n

EXPLORE:\u00a0<\/span>17 Best Crypto to Buy Now in 2024<\/span><\/a><\/strong><\/p>\n

The post Donald Trump Picks Crypto Ally Paul Atkins As Next SEC Chair<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Former President Donald Trump has reportedly selected Paul Atkins, a crypto advocate and former SEC commissioner, as his choice to lead the Securities and Exchange Commission (SEC). Three anonymous sources have reportedly confirmed the pick to the crypto-focused outlet Unchained, though Atkins has yet to formally accept the position. Currently, Atkins is the CEO of […]<\/p>\n","protected":false},"author":0,"featured_media":25655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-25654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/25654"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25654"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/25654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/25655"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}