Former US President, Donald Trump, is reportedly considering Paul Atkins as the SEC Chairman.
Gary Gensler, infamous for his anti-crypto views, is set to leave his position in January 2025. Replacing Gensler with an outspoken crypto advocate is a massive move on Trump’s behalf. Atkins has previously worked as the SEC commissioner, so he packs the skills to fulfill the role.
The move comes at a crucial time for the crypto market, which is already reaching new heights. Since Donald Trump’s victory, cryptos like Bitcoin, Ethereum, and XRP have been hitting new records.
Trump picks former SEC head Paul Atkins to chair his SEC.
Pros:
He has advocated for reasonable (and workable) regulation in the digital asset space – especially with the exchanges.
He’s a steady hand who was SEC chair for 8 years. It will be hard for the Dems to attack him.… https://t.co/3RgVq0PxRL
— Jeremy Hogan (@attorneyjeremy1) December 3, 2024
For instance, Bitcoin recently broke its all-time high and almost hit the 100,000 dollar mark. Similarly, the appointment helped XRP claim the 3rd rank among the top cryptocurrencies.
Due to their legal history, the possibility of Atkins becoming the SEC Chair will boost XRP price prediction 2025. A crypto advocate at the SEC’s forefront will pave the way for a transparent and encouraging crypto regulatory framework.
Atkins’ pro-crypto views bode well with the desires of other crypto supporters who seek more support from the authorities. With Atkins’ leadership, the crypto market can receive consistent and clear guidelines.
But while the news of Atkins is being met with optimism, his appointment as the SEC Chair will be challenging. His pro-crypto views will certainly be met with resistance from traditional lawmakers.
Moreover, the SEC’s role in securing retail investors is likely to clash with Atkins’ friendly stance. Navigating such challenges will be pivotal to deciding whether Atkins can be promoted into the mainstream industries as the SEC Chair.
The outcome of the potential leadership change at the US Securities Exchange Commission will likely shape the future of cryptos in the US.
