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After Trump makes his nomination, Congress must approve the appointment.
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Gensler, current president of the organization, will be at the SEC until January 20, 2025.
An expected announcement would be confirmed in the next few hours. Donald Trump has nominated Paul Atkins, who has openly expressed his support for the Cryptocurrency industry, to chair the Securities and Exchange Commission (SEC), according to three sources familiar with the environment of the new government.
Atkins served as SEC Commissioner under President George W. Bush and would replace current SEC Chairman Gary Gensler, who will step down on January 20, 2025.
According to one of the sources, Atkins’ response is being awaited. The Republican politician’s spokespersons have not commented so far.
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Paul Atkins, possible Trump candidate to chair the SEC: Source: FinancialCentresInternational.com
The nomination of Trump’s nominee for the SEC now goes to the US Congress, which must approve the appointment before Paul Atkins can officially assume his role. This process could significantly reshape the landscape regulatory for cryptocurrencies in the United States.
Gary Gensler, a former banker and MIT professor, has been a controversial figure, especially within the IT ecosystem. cryptocurrencies. During his tenure, Gensler has been seen as one of the industry’s biggest opponents. Your Application Regulation Approach has led to numerous lawsuits, fines and legal actions against companies in the sector, as reported by CriptoNoticias.
Among the most notable cases are the actions against Ripplewhere the SEC accused the company of selling unregistered securities, and the Binance-cz-violar-leyes-federales-valores/” target=”_blank” rel=”noreferrer noopener”>arrest and punishment by Changpeng Zhao, former CEO of Binance, for violations of securities laws and terrorist financing.
Gensler, who took office in 2021 under the Joe Biden administration, has pushed a tough regulatory agenda. His period at the helm of the SEC has been characterized by a considerable increase in surveillance and control on digital assets, which has generated both support and criticism.
With the nomination of Paul Atkins, the SEC is expected to take a friendlier stance towards cryptocurrencies. During the campaign, Trump promised a less restrictive approach that would encourage innovation and growth of the digital asset sector in the United States. Paul Atkins would now be tasked with dismantling Gensler’s restrictive policies and promoting a regulatory environment that expands the cryptocurrency industry.
The transition at the SEC not only symbolizes a change in leadership, but also a potential shift in policy toward cryptocurrencies. The industry hopes that, under the direction of the new SEC chairman, clearer guidelines will be established that will allow companies operate with greater legal certainty and promote the adoption of emerging technologies.
This shift could position the United States as a leader in financial technology innovation, aligning with Trump’s campaign promises to promote the development of the cryptocurrency industry in the country.
This article was created using artificial intelligence and edited by a human Editor.
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