Atkins served as SEC commissioner from 2002 to 2008 and founded the risk advisory firm Pomak Global Partners in 2009, whose clients include companies in the banking and cryptocurrency industries. According to Trump’s transition team, Atkins was co-chair of the Digital Chamber of Commerce, which promotes the use of digital assets.
The previous SEC chairman, Gary Gensler, had announced that he would resign from his position in January – thus forestalling a dismissal by Trump. Trump is a supporter of cryptocurrencies, which Gensler is critical of.
The Republican Trump announced himself during the election campaign as a “pro-innovation and pro-Bitcoin president”. After his election victory, the price of the cryptocurrency Bitcoin went through the roof.
According to the US election agency FEC, crypto-friendly groups poured $245 million into Trump’s election campaign. Together with his three sons, Trump recently founded his own crypto and investment platform called World Liberty Financial. The tech billionaire Elon Musk, who was appointed government advisor by Trump, is also a declared crypto friend.
The past few years under Gensler have been “an uninterrupted anti-crypto crusade,” “which has led to a standstill in innovation and incalculable job, talent and economic losses,” explained Blockchain Association boss Smith in the online service X.
Democratic Senator Elizabeth Warren expressed concern about Atkins’ nomination. During the last financial crisis, Atkins spoke out against fines for large corporations, despite their misconduct.
Trump also nominated former Senator Kelly Loeffler to head the US Small Business Administration (SBA) on Wednesday. Trump named former Representative Billy Long as the future head of the IRS tax authority – this means that Trump has to throw the current IRS chief Danny Werfel out of office. He was appointed by incumbent President Biden in 2022 for a five-year term.
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