President-elect Donald Trump announced Wednesday, December 4 that he planned to appoint, once invested, Republican lawyer Paul Atkins, favorable to the development of cryptocurrencies, to head the American Financial Markets Regulatory Authority, the SEC.
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Former commissioner of this same authority from 2002 to 2008 under the government of George Bush, Paul Atkins will succeed the Democrat Gary Gensler, who announced his resignation end of November after the election of Donald Trump. He is currently the managing director of a risk management consulting firm, Patomak Global Partners, but also advisor to the Digital Chamber, an organization promoting the technology on which cryptocurrencies are based, the “ blockchain. »
Although he has already been publicly critical of the use of cryptocurrencies for speculative purposes, he is no less in favor of the development of this sector for transactional purposes. This position contrasts with that of the outgoing president, Gary Gensler, whose mandate was marked by a wave of repression against numerous players in digital currencies, accused of operating illegally.
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Donald Trump praises the “ common sense » by Paul Atkins
Paul Atkins has also spoken several times in favor of strict compliance with their mandate by American government agencies, notably the SEC, contrary to the doctrine of the Biden administration, which is more interventionist. Last year, he publicly criticized SEC officials, saying they should have come forward ” more accommodating » with companies in the cryptocurrency world and accusing their approach of diverting entrepreneurs from the American market.
“ Paul has demonstrated his orientation in favor of regulation tinged with common sense “, indicated Donald Trump in a message posted on his Truth Social platform. “ It believes in strong and innovative financial markets that meet the needs of investors », added the real estate developer. “ He also recognizes that digital assets are crucial to making America greater than it has ever been. », Wrote the president-elect.