Trump selects Paul Atkins as SEC chairman, cryptocurrency briefly rises

ChainCatcher News, former President Donald Trump of the Republican Party announced on Wednesday that he will nominate Paul Atkins to be the chairman of the U.S. Securities and Exchange Commission (SEC). Following the announcement, cryptocurrency prices rose sharply. Current SEC Chairman Gary Gensler is a hardliner, and his ambitious agenda has led to conflicts with Wall Street and the crypto industry.

Atkins believes that robust and innovative capital markets can meet the needs of investors and provide the funding necessary to keep the U.S. economy at the forefront. He also recognizes that digital assets and other innovations are crucial for maintaining America's leadership. Atkins is expected to review several rules established under Gensler's tenure and the court enforcement actions, adopt a more lenient approach to cryptocurrencies, and seek rule changes aimed at promoting capital formation.