Donald Trump Names Paul Atkins as Preferred SEC Chair

President-elect Donald Trump has selected Paul Atkins to chair the Securities and Exchange Commission (SEC). Atkins, a known crypto supporter, also serves as an advisor to Reserve Protocol, but it remains to be seen if he will accept.

Trump has slated Atkins to replace Gary Gensler, who submitted his official resignation on Nov 20. However, it is being reported that Atkins may be reluctant to accept the position.

Paul Atkins formerly served as a commissioner for the SEC during the Bush administration from 2002 to 2008. More recently, Atkins has been a vocal supporter of the crypto industry and serves on the board of advisors to the Digital Chamber of Commerce, an organization that aims to “promote the acceptance and use of digital assets and blockchain-based technologies.”

In addition to his role with the Chamber, Atkins has also been working with Reserve Protocol, a permissionless platform to launch stablecoins and other 1:1-backed currencies.

Reserve’s token, RSR, has been soaring over the last week as traders looked to front-run the potential announcement of Atkins’ appointment, and the token jumped another 50% after the initial report. RSR is now up 130% in the last 24 hours.

The consensus among market participants has been that any alternative to Gary Gensler would prove healthy for the market. Still, the appointment of an openly pro-crypto Chairman aligns with President Trump’s pre-election promises to the crypto community.

While nothing is set in stone until Atkin’s accepts the position, investors are excited. Eric.eth, a prominent Ethereum contributor, took to X to say, “Very pro-crypto pick for SEC chair.”