President-elect Donald Trump’s transition team is currently considering several candidates for the position of SEC Chair, with a decision expected to be announced soon. According to sources familiar with the matter, FOX Business journalist Eleanor Terrett reports that the announcement could come as early as tomorrow.
One potential candidate for the SEC Chair role is Paul Atkins, a former SEC commissioner, who is currently leading the polls on prediction market platform Kalshi. After interviewing with Trump’s transition team, support for Atkins has been steadily growing among traders on Kalshi. With a 70% probability of appointment, Atkins is ahead of Brian Brooks, who has dropped to second place with a 20% chance according to Kalshi bettors.
Known for his pro-innovation stance on digital assets and fintech, Atkins has been critical of the current SEC’s regulation-by-enforcement approach under Gary Gensler. He has been a vocal advocate for clearer regulations surrounding crypto assets and a regulatory framework that fosters innovation. If appointed as SEC Chair, Atkins is expected to bring a more balanced approach to crypto regulation.
In addition to Atkins, other candidates under consideration for the SEC Chair position include current SEC Commissioner Mark Uyeda, Dan Gallagher, chief legal officer at Robinhood, and former CFTC Chair Heath Tarbert.
Gary Gensler, the current SEC Chair, is set to depart next month on January 20, 2025, after serving as the agency’s 33rd chair since April 17, 2021. During his tenure, Gensler focused on increasing oversight of the crypto industry, leading to multiple enforcement actions against crypto intermediaries for fraud and registration violations. The SEC under Gensler also approved both spot and futures Bitcoin and Ethereum ETFs.
As the transition team narrows down their choice for the next SEC Chair, the financial industry will be closely watching to see how the new leadership will approach crypto regulation and innovation. Stay tuned for updates on this developing story.