US President-elect Donald Trump has announced plans to appoint Paul Atkins, a staunch supporter of cryptocurrency, as the new chairman of the Securities and Exchange Commission (SEC).
Atkins, a former SEC commissioner and CEO of Patomak Partners, is known for his support for more flexible market regulations and digital innovation.
Trump called Atkins a “recognized leader” who can be trusted to build innovative markets and embrace digital assets to strengthen the American economy.
The appointment is in line with Trump’s promise to make the US a global hub for cryptocurrencies, including creating a “strategic reserve” of bitcoin.
Since Trump’s victory in the US election, the price of bitcoin has continued to soar past $95,000 and today it has made history as its price has breached the $100,000 mark!
Atkins, who was part of Trump’s advisors during his first term, is a strong supporter of crypto through groups such as the Token Alliance.
His appointment marks a major change in US crypto regulations, which has been welcomed by industry players.
Trump's move also signals that cryptocurrencies are poised to become a major asset in the global economy, changing the way the world views crypto as a future investment vehicle.
