Paul Atkins Rumored to Be the Next SEC Chair, Promises Innovation-Friendly Crypto Regulations

Several rumored reports suggest that President-elect Donald Trump has chosen pro-crypto candidate Paul Atkins to lead the SEC under his government. However, Atkins is yet to accept the role formally.

President-elect Donald Trump has reportedly chosen Paul Atkins to lead the Securities and Exchange Commission (SEC) in his administration, according to several people familiar with the discussions.

Atkins, a former SEC commissioner who served from 2002 to 2008, is yet to accept the role formally. He previously served as the SEC commissioner under President George W. Bush.

Trump is expected to announce the new SEC chair this week, as BeInCrypto reported earlier. Several influencers in the crypto industry have claimed that Trump has extended the official offer to Atkins on Monday.

If appointed, Atkins is expected to promote policies that will foster growth in the crypto sector, contrasting with Gary Gensler’s more stringent regulatory approaches.

“Trump has chosen Paul Atkins, a pro-crypto trailblazer, to lead the SEC — marking a massive win for the crypto industry. Atkins, known for his forward-thinking stance on digital assets, promises to deliver clear, innovation-friendly regulations,” Mario Nawfal posted on X (formerly Twitter).

“Atkins, who went on to slam Gensler over the SEC’s lawsuit against Ripple, has also stated that Gensler can still drop the XRP lawsuit if he wants to. However, the current SEC chair remained firm in his decision to continue pursuing the altcoin, which played a key role in its market performance over the years. Gensler announced his resignation last month and will step down in January.”

Atkins has also actively criticized the SEC’s lawsuit against Ripple and XRP. He even suggested that there were inconsistencies in the lawsuit and that Gensler could withdraw the lawsuit.

However, the current SEC chair remained firm in his decision to scrutinize the altcoin, which significantly impacted its market performance over the years. Gensler announced his resignation last month and is set to step down in January.

“Trump picked pro-crypto Paul Atkins to chair the Securities and Exchange Commission (SEC), according to three sources familiar with the discussions. XRP to $10 is my target! BYE GARY, Hello Ripple PUMP,” influencer Oscar Ramos wrote on X.

Despite the rumors, some sources have claimed that Atkins is unlikely to accept the offer. He currently has several business interests, and being the SEC chair would require him to resign from those entities. This might be an unappealing proposal for someone who has already served five years leading the SEC.

“Lots of people asking me if the reports about Paul Atkins being picked to be the next SEC Chair are true. I’ll say this: It’s not confirmed until we see the official announcement from Donald Trump himself,” FOX Business Eleanor Terrett wrote on X.

Yet, the speculations have already started to impact the crypto market. XRP is up by 1.5% in the last hour, going back up to $2.57. Most notably, the Reserve Rights RSR token surged nearly 30% since the news. Reports suggest that Atkins was previously on the RSR advisory board.

Overall, the official SEC chair is yet to be confirmed. It seems that whoever replaces Gary Gensler could potentially overhaul the agency’s stance towards crypto and positively change the US regulatory scene.