- Gary Gensler’s aggressive SEC enforcement has left a contentious legacy, prompting his resignation effective January 2025.
- Paul Atkins, a pro-crypto candidate, is the likely frontrunner for SEC chair under Trump but faces competition from other blockchain-friendly contenders like Teresa Goody Guillén and Heath Tarbert.
- The next SEC chair will significantly shape crypto policy, with debates over “regulation by enforcement” remaining a key issue.
Gary Gensler caused a lot of trouble during his tenure as the chair of the US Securities and Exchange Commission (SEC), so much so that not even Paul Atkins, a former Commission member of the agency, wants to clean up Gensler’s mess.
Not a Dream Job for Atkins it Seems
Atkins is allegedly Trump’s top SEC chair pick. I say allegedly because Trump has not officially named any SEC chair pick, but the Trump team did interview ex-commissioner Atkins. Anyway, turning around the bloated agency left by Gensler doesn’t sound like a dream job for him, according to a CoinDesk report on December 3.
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Atkins is a conservative. He worked as an SEC commissioner during George W. Bush’s tenure as president, but he’s widely seen as a pro-crypto candidate. This is important, given that the next SEC chair will have a massive influence in shaping policies for the crypto industry.
Needless to say, Gensler, who announced his resignation effective Jan. 20, 2025, has been criticised by the crypto industry for what many perceive as an overly aggressive enforcement strategy. The guy even sent Wells notices to NFT marketplaces…
A prediction platform, Kalshi, recently placed Atkins’ odds of being nominated at 93%.
Trump Has More Potential Candidates Up His Sleeve
Keep in mind Trump had deviated from expected shortlists for other roles before, such as his surprising pick of Matt Gaetz for US Attorney General —an appointment that ultimately did not materialise. Therefore, he might have a few other contenders for the SEC chair position, including attorney Teresa Goody Guillén, known for her pro-crypto views, and former CFTC chair Heath Tarbert, who has extensive experience in government and corporate law.
Guillén has particularly gained attention for her public advocacy for blockchain innovation and her not-soft-at-all critiques against the SEC’s approach to crypto regulation, which many have called “regulation by enforcement”.
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Other potential candidates include Robert Stebbins and Dalia Blass, who were endorsed by former SEC chair Jay Clayton but face criticism from crypto advocates for their enforcement actions, including the SEC’s controversial case against Ripple Labs.
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