Trump ready to nominate cryptocurrency lawyer Paul Atkins as next SEC Chairman, but he hesitates
Atkins is the founder and CEO of Patomak Global Partners
Donald Trump has reportedly offered the position of SEC Chairman to former Commissioner Paul Atkins, but Atkins is hesitant due to the need to part ways with his thriving business.
According to multiple sources, Atkins, a known advocate for the crypto sector, was seen at Trump’s Mar-a-Lago resort and was scheduled for an interview with the president-elect earlier this week regarding the potential appointment.
Former SEC Advisory Committee member and George Mason University professor J.W. Verret noted that Senate Republicans hold Atkins in high regard, recognizing him as the first true libertarian to serve as an SEC Commissioner—a unique aspect of his tenure.
Currently, Atkins is the founder and CEO of Patomak Global Partners, a consulting firm specializing in regulatory compliance. Sources suggest he is reluctant to leave his practice and business interests to take up the role at the SEC.
The appointment may not take place
One possible reason for Atkins’ hesitation to replace current SEC Chair Gary Gensler could be "the extensive work required to restructure the bloated agency," according to a person familiar with Atkins' perspective, as reported by CoinDesk.
Other potential candidates for the SEC Chair role include Theresa Goody Guillén, Heath Tarbert, Brad Bondi, and Norm Champ.
If the Senate does not confirm Trump's nominee by Inauguration Day, Republican SEC Commissioner Mark Uyeda may serve as acting chair.
Despite recent signs of improving relations between U.S. authorities and the crypto industry, the Securities and Exchange Commission (SEC) continues its legal battles with Binance.
