Donald Trump’s Crypto-Friendly SEC Chair Nominee Paul Atkins Gets a Setback – Here are the Details

Paul Atkins, President-elect Donald Trump's leading choice for the next head of the U.S. Securities and Exchange Commission (SEC), is reportedly reluctant to accept the role, according to sources familiar with his thinking.

Atkins, a former SEC commissioner and a prominent advocate for the cryptocurrency industry, is said to see the position as a daunting challenge, especially since he sees the agency as having been mismanaged under SEC Chairman Gary Gensler. Atkins reportedly sees cleaning up Gensler’s “mess” as a significant deterrent to taking on the job.

Atkins’ hesitations appear to have been echoed by other regulatory figures, including former Commodity Futures Trading Commission (CFTC) Chairman Chris Giancarlo. A staunch advocate of pro-crypto policies and a supporter of Atkins’ candidacy, Giancarlo has also expressed concerns about the significant work needed to reform the SEC. Giancarlo himself was once considered a candidate for SEC chairman.

Despite her reluctance, Atkins was recently seen at Trump’s Mar-A-Lago resort, fueling speculation about her potential appointment. She was scheduled to interview for the SEC chair position over the weekend, with interviews scheduled to take place on Sunday and Monday, according to industry sources.

Atkins currently serves as founder and CEO of Patomak Global Partners, a consulting firm specializing in strategy, risk management and regulatory compliance.