Donald Trump may tap Paul Atkins as SEC chair

Bitcoin rebounded above $95,500 after President Donald Trump selected Paul Atkins as the new chair of the U.S. Securities and Exchange Commission.

President-elect Donald Trump is reportedly set on naming former SEC Commissioner Paul Atkins to replace outgoing chair Gary Gensler at the top of the federal securities watchdog, according to sources with inside knowledge on the matter.

Atkins has been a vocal supporter of the crypto industry, and many believe he could stem the scorched earth approach employed by the SEC during chair Gensler’s four years in charge. Ahead of Trump’s January inauguration, Gensler announced his resignation, much to the delight of blockchain proponents who felt hard done by his anti-crypto litigation agenda.

The general crypto social media consensus suggested that Atkins is well endorsed by industry leaders, who expect fresh SEC leadership under Trump’s administration.

Atkins was named as Trump’s preferred pick for the position over the past few weeks, and the President’s team even contacted the ex-SEC official to discuss the role. However, Atkins is hesitant to accept Trump’s offer, Coindesk reported.

Insiders reportedly noted Atkins was reluctant to undo Gensler’s mess, a stance shared by former Commodity Futures Trading Commission chair Chris Giancarlo, who was also mentioned as a possible SEC chair candidate.

As for reports that I’m in mix to run @SECGov, I’ve made clear that I’ve already cleaned up earlier Gary Gensler mess @CFTC and don’t want to have do it again. DC rumors that I’m intereste