Paul Atkins, founder and chief executive officer of Patomak Global Partners LLC, speaks to Bloomberg Television at the Milken Institute Global Conference in Beverly Hills, California, U.S., Monday, May 1, 2017 Speaking during the interview.
David Paul Morris | David Paul Morris Bloomberg | Getty Images
Fulfilling his promise of a cryptocurrency-friendly government, President-elect Donald Trump plans to nominate former SEC Commissioner Paul Atkins to lead the agency, According to his Truth Society post.
Atkins, currently CEO of Patomak Global Partners, is a well-known veteran in finance and Republican politics. He is widely expected to take the job at the top U.S. financial markets regulator.
If confirmed, Atkins would succeed Gary Gensler, who is widely known in the digital currency community for his repeated efforts to bring down the $3.5 trillion cryptocurrency market. Criticize. Markets have been surging since Trump won the election on Nov. 5, promising an easier path for Bitcoin and its many cousins.
Trump’s stance on cryptocurrencies mirrors his generally supportive stance on deregulation when he first took office.
Atkins served as SEC commissioner from 2002-08 under then-President George W. Bush. Prior to this, he held other roles within the regulator’s corporate finance department.
In addition to taking a pro-crypto stance, the would-be nominee has also been critical of some of the reforms that emerged out of the 2008 global financial crisis. Specifically, he criticized Dodd-Frank as placing too great a burden on the banking industry.
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