Digital Asset Defender
Atkins served as a Republican SEC commissioner in the course of the George W. Bush administration, after which he based Patomak World Companions, a consulting agency for main monetary trade shoppers.
He’s a powerful proponent of digital property and fintech corporations. He has additionally testified earlier than Congress on methods to restructure the company’s operations and scale back what some trade individuals would contemplate duplicative or overly burdensome rules.
Trump had promised to fireside Gensler on “day one,” a vow that grew to become moot when the previous Goldman Sachs banker introduced earlier this month he would step down in January.
Gensler led the SEC with an bold agenda, cracking down on crypto, following a collection of high-profile collapses, together with the implosion of Sam Bankman-Fried’s FTX alternate.
Gensler’s SEC was steadily criticized by the trade as making rules through enforcement as a substitute of constructing clear how you can play by the foundations, an strategy that might change underneath the brand new administration.
Trump embraced cryptocurrency throughout his marketing campaign, after as soon as describing it as a rip-off towards the greenback. He promised supporters he’d create a strategic Bitcoin stockpile, appoint crypto-friendly regulators and finish the outgoing administration’s “anti-crypto campaign.”
The SEC underneath its new chief is predicted to remain centered on what’s thought-about bread-and-butter priorities: rooting out fraud, taking goal at insider buying and selling, stopping Ponzi schemes and curbing inaccurate, deceptive or overly lofty disclosures.
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