U.S. President-elect Donald Trump reportedly nominates pro-crypto advocate Paul Atkins to serve as the chairman of the SEC under his administration.
Three sources familiar with the matter reveal that Trump’s transition team nominated Atkins for the position after a two-day interview session from December 1-2. One of the sources said they spotted Atkins at Trump’s Mar-A-Lago resort earlier this week.
Atkins Rank as Top Candidate for SEC Chair
Over the past weeks, Atkins has ranked as the favorite to replace Gary Gensler as the next SEC Chair. This speculation gained momentum last week after Bloomberg joined FOX Business to report Atkin’s potential emergence as SEC Chair.
According to FOX Business journalist Eleanor Terrett, Trump’s transition team considers Atkins a top candidate for the position due to his understanding of the SEC. He was a commissioner at the securities agency under President George W. Bush and a staffer under two previous SEC chairs.
Furthermore, he possesses policy expertise in the U.S. securities market and is a crypto advocate, which aligns with Trump’s campaign promise for the industry.
Amid reports of Atkins’ nomination, Terrett suggested that the information could be accurate. However, she emphasized the need to wait for an official announcement from Trump.
Atkins Reluctant to Become Next SEC Chair
Although the transition team has reportedly nominated Atkins to replace the current chairman of the U.S. SEC, he has not officially accepted the position.
A source claimed Atkins is reluctant to take up the job. According to the source, the agency’s mismanagement under the current leadership headed by Gensler does not make the position attractive for Atkins.
Also, the former SEC commissioner does not fancy leaving his CEO role at Patomak Global Partners, a company he founded. For context, Patomak is a consulting firm specializing in regulatory compliance and risk management for crypto, banks, and insurance companies.
The source claimed Atkins plans to leave his current job at Patomak for another engagement only when the company can operate without him. Whether he will accept the position as the next SEC Chair remains to be seen.
Besides Atkins, Trump’s transition team is also considering other candidates to replace Gensler, who announced his upcoming resignation as SEC Chair. The top contenders include crypto stakeholders like Teresa Goody Guillén, Brian Brooks, and Brad Bondi.
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