The cryptocurrency and technology sectors are gaining more clarity regarding regulatory changes as President-elect Donald Trump has announced his intention to nominate Paul Atkins to lead the Securities and Exchange Commission (SEC). This move is expected to shift the regulatory stance towards a more relaxed approach for cryptocurrencies like Bitcoin, in contrast to the stricter policies under the previous SEC chair, Gary Gensler.
Paul Atkins, a strong supporter of the cryptocurrency industry, has been an active figure in advocating for crypto-friendly regulations. He served as co-chairman of the Digital Chamber of Commerce’s Token Alliance since 2017. In a post on Truth Social, Trump praised Atkins as a “proven leader for common-sense regulations,” highlighting his commitment to developing capital markets that better serve investors. Trump also emphasized Atkins’ recognition of the economic potential of digital assets for the U.S.
In the tech sector, Trump plans to nominate Gail Slater, a former Fox Corporation executive and economic policy adviser from his first term, to lead the Justice Department’s antitrust division. This nomination underscores Trump’s intention to tackle issues surrounding competition among major tech companies. Trump has long criticized Big Tech’s dominance, stating that it has hindered competition and infringed upon Americans’ rights.
Slater, who previously worked at the Federal Trade Commission (FTC), has extensive experience in technology policy, particularly in areas like 5G telecommunications and cybersecurity during her tenure in the Trump administration.
The crypto community welcomed Atkins’ nomination, with Bitcoin’s price rising by over $1,000 shortly after the announcement. Atkins, who served as an SEC commissioner from 2002 to 2008, later founded Patomak Global Partners, a consultancy advising clients in finance and cryptocurrency.
As Trump prepares for his second term, his plans include advancing pro-crypto policies, such as creating a “strategic national bitcoin stockpile” and revising how seized cryptocurrencies are managed. With these nominations, both the crypto and tech industries anticipate major shifts in regulatory approaches over the next four years.
