Cryptocurrencies have soared since Trump’s victory, but that was all expectations so far. The latest appointment of the new president of the United States is finally the one many crypto enthusiasts have been waiting for: an outspoken advocate of cryptocurrencies as the head of the Securities and Exchange Commission (SEC), the country’s main regulatory body.

Who is Paul Atkins? The person chosen by Trump to lead the SEC was already a commissioner at the organization from 2002 to 2008. Paul Atkins, a lawyer by profession, is the CEO of Patomak Global Partners consulting firm, specializing in financial companies and the crypto industry. His short position in favor of cryptocurrencies does not end there, as he is the co-founder of the Token Alliance.

The exact opposite profile of Gary Gensler. Last year, the SEC moved to define its position on cryptocurrencies. “A complete US attack on cryptocurrencies,” we explained from Xataka. Current SEC Chairman Gary Gensler has clearly positioned himself in favor of tighter regulation of cryptocurrencies during his tenure.

Paul Atkins has a diametrically opposite view. “Paul recognizes that digital assets and other innovations are vital to making America a better country than ever before,” Trump describes Atkins. “Paul is a proven leader on common-sense regulation.”

Less regulation; The free path to the crypto world. In the SEC’s previous assignment, it was decided to increase surprise audits and ensure that certain requirements are met. A bureaucracy criticized by some but supportive of others, such as Coinbase, declared that “regulatory clarity will ultimately benefit us.”

A relief in these conditions is expected with Atkins. “These same investors should not be expelled from our markets by burdensome regulations or have the fruits of their investments eaten away by meaningless orders,” he explained in 2007.

The SEC has opened legal fronts against crypto (and that could all change). The SEC’s role goes beyond regulation. He also plays an active role in legal actions such as lawsuits against Ripple and XRP. At the end of 2020, the SEC sued them, questioning their independence. The judge ruled in favor of XRP in 2023, but the case continues in the Supreme Court. But before it reaches that point, the SEC may change its position or dismiss the case, ending the legal fight against the third-largest crypto. It will be in the hands of Paul Atkins.

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