Digital Asset Defender
Atkins served as a Republican SEC commissioner throughout the George W. Bush administration, after which he based Patomak International Companions, a consulting agency for main monetary business shoppers.
He’s a robust proponent of digital belongings and fintech corporations. He has additionally testified earlier than Congress on methods to restructure the company’s operations and cut back what some business contributors would contemplate duplicative or overly burdensome laws.
Trump had promised to fireside Gensler on “day one,” a vow that turned moot when the previous Goldman Sachs banker introduced earlier this month he would step down in January.
Gensler led the SEC with an formidable agenda, cracking down on crypto, following a sequence of high-profile collapses, together with the implosion of Sam Bankman-Fried’s FTX trade.
Gensler’s SEC was regularly criticized by the business as making laws through enforcement as an alternative of creating clear the right way to play by the foundations, an method that would change underneath the brand new administration.
Trump embraced cryptocurrency throughout his marketing campaign, after as soon as describing it as a rip-off in opposition to 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 targeted 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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