Former SEC Commissioner Paul Atkins has emerged as the leading candidate to head the agency under Donald Trump’s administration, according to Eleanor Terrett of FOX Business, citing two sources.
?NEW: Former SEC commissioner Paul Atkins is said to still be the favorite among top transition team members to lead the @SECGov, according to two sources close to discussions at Mar-a-Lago. @FoxBusiness, @CGasparino reported earlier this week that Atkins was in the lead for the…
— Eleanor Terrett (@EleanorTerrett) November 27, 2024
According to the sources, Atkins has become a favorite among leading members of the president-elect’s transition team due to several factors. He is expected to establish a “pro-innovation agenda” at the agency and restore it to the “gold standard” that many Republicans believe was lost under the outgoing chair, Gary Gensler.
“Atkins is someone who not only understands cryptocurrencies but also has a deep understanding of the inner workings of the SEC, having served under two previous chairs, Richard Breeden and Arthur Levitt,” Terrett wrote.
On the prediction platform Kalshi, bets on Atkins’ appointment have risen to 60%. Following the journalist’s report, his chances increased by 29% in a day.
For the first time, a majority of users believed in his appointment on November 22, when the share of bets on him jumped to 43.5%.
John Reed Stark, President of John Reed Stark Consulting, discussing potential candidates for the SEC chair position, called Atkins one of the most qualified commissioners in the agency’s history.
Current SEC Chair Gensler has already announced his resignation effective January 20, 2025. This date coincides with Trump’s inauguration day, during which he had promised to dismiss the official.
Traditionally, heads of federal agencies step down with a change in presidency, allowing the new administration to make fresh appointments. Legally, they are not obliged to do so; for example, Gensler was supposed to remain in office until 2026.
Trump’s team continues its stated policy of nominating crypto-friendly candidates for key leadership positions. Alongside previously announced Bitcoin supporters like Robert Francis Kennedy Jr. (Health), Pete Hegseth (Defense), and Howard Lutnick (Commerce), Scott Bessent (Treasury) and Kelly Loeffler (Agriculture) have been added.
Terrett noted that after selecting candidates for major ministerial posts, the transition team began identifying potential heads of federal agencies. However, when these decisions will be officially announced remains unclear, the journalist added.
Trump’s circle intends to transfer some control over the crypto market to the CFTC. Gensler had advocated for such an approach back in 2022.
The president-elect’s team is also considering appointing a “crypto czar”—a dedicated position in the administration focused on digital assets.