In the ongoing developments surrounding the rapidly evolving cryptocurrency landscape, Donald Trump’s team has reportedly consider a new Securities and Exchange Commission (SEC) chair to replace the current chair, Gary Gensler. According to the latest report, the Trump’s team has consider pro-crypto former commissioner Paul Atkins for the SEC chair position.

Trump’s Team Consider Paul Atkins to Replace Gary Gensler

Atkins is known for his crypto expertise and innovative stance in supporting this rapidly evolving landscape. Following his election as SEC chair, there is a strong possibility that he could actively back and promote U.S. crypto regulation while encouraging rapid growth in the sector.

Recently, Eleanor Terrett, a journalist at Fox Bussiness, noted on X (formerly Twitter),

“Atkins is someone who is not only crypto-savvy but possesses a deep understanding of the inner workings of the agency as both a former commissioner and staffer under two prior SEC Chairs — Richard C.”

Terrett further added that Atkins is seen as being capable of establishing a pro-innovation agenda while returning the agency to the so-called “gold standard” many in the Republican Party feel was lost under outgoing chair Gary Gensler.

Current Market Outlook

Following this much-awaited update, the overall cryptocurrency market began turning green.

As of press time, top assets including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) have registered gains of over 2.75%, 7.5%, and 6%, respectively, in the past 24 hours. Meanwhile, other major cryptocurrencies are experiencing similar upside momentum.

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