Paul Atkins, founder and CEO of Pomak Global Partners LLC, speaks during an interview with Bloomberg Television at the Milken Institute Global Conference in Beverly Hills, California, U.S., on Monday, May 1, 2017.
David Paul Morris | Bloomberg | Getty Images
President-elect Donald Trump is sticking to his promise of a crypto-friendly government and plans to appoint former SEC Commissioner Paul Atkins to lead the agency, according to a post by Truth Social.
Atkins is currently CEO of Pomak Global Partners and a well-known veteran of the financial world and particularly Republican political circles. He was widely expected to become the country's top financial regulator.
If confirmed, Atkins would succeed Gary Gensler, a widely despised figure in the digital currency community for his numerous efforts to crack down on the $3.5 trillion crypto market. Trump has promised an easier path for Bitcoin and its myriad competitors, and the market has soared since his November 5 election victory.
“Paul is a proven leader for common-sense regulations. “He believes in the promise of robust, innovative capital markets that respond to investors’ needs and provide capital to make our economy the best in the world,” Trump said in a statement. “He also recognizes that digital assets and other innovations are critical to making America greater than ever before.”
Trump's stance on cryptocurrencies reflects his broader stance on deregulation, which he took during his first term in office.
Atkins served as SEC commissioner from 2002 to 2008 under then-President George W. Bush. Previously, he also held other positions at the regulator in the corporate finance sector.
In addition to taking a pro-crypto stance, the future candidate also criticized some of the reforms that emerged from the global financial crisis in 2008. In particular, he criticized the Dodd-Frank legislation as being too burdensome for the banking industry.
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