A report shows that the former Republican SEC Commissioner Paul Atkins has emerged as the clear favorite to replace outgoing chair Gary Gensler.
Media outlet Bloomberg has reported that Paul Atkins is the top candidate for the SEC chair. A Wednesday report, citing people familiar with the matter, indicated that the Trump transition team has interviewed Atkins for the role.
Trump Team Taps Atkins to Head the SEC
Atkins, among other names, emerged as a candidate to replace the departing Gary Gensler. The chair announced he would resign on January 20, 2025, following Trump’s threat to fire him.
People familiar with the matter mentioned that the Trump team is considering other candidates, such as Mark Uyeda, Heath Tarbert, and Teresa Goody Gullien. However, the Patomak Global Partner founder became a clear favorite after his interview.
Atkins is widely known for his staunch advocacy for cryptocurrencies. He once defended the industry against incessant regulatory enforcement before Congress. Before establishing his consulting firm, the veteran served as an SEC commissioner under former President George W. Bush.
Notably, Atkin’s portfolio matches Trump’s ideal SEC chair candidate. The president-elect intends to fill the role with an innovative-friendly candidate who would regulate the crypto industry fairly.
Meanwhile, Fox Business reporter Eleanor Terrett also confirmed Bloomberg’s report. In a tweet, the journalist cited people familiar with the matter, suggesting that Atkins is leading the race to become SEC chair.
Trump Team Close to Conclusion
Furthermore, the unidentified source mentioned that the Trump team is close to choosing the next SEC boss. They disclosed that the transition team would pick Gensler’s replacement in a few days.
However, they mentioned that no candidate has been confirmed yet. They said this would not go on for long as the decision inches closer.
Meanwhile, the Trump team spokesperson, Karoline Leavitt, stated that the President-elect would announce the remaining roles in the incoming administration imminently. He emphasized the “lightning-paced” decision-making so far and expects Trump to round up pickings in the coming days.
Notably, Trump has wasted no time in filling his cabinet. Having tapped Elon Musk, Robert F. Kennedy, and a host of other pro-crypto candidates, Trump has now set his sights on filing federal agency roles.
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