- Donald Trump plans to announce the new SEC Chair tomorrow.
- Current SEC Chair Gary Gensler’s term ends on January 20, 2025.
President-elect Donald Trump is expected to reveal his pick for the next Securities and Exchange Commission (SEC) Chair as early as tomorrow. FOX Business journalist Eleanor Terrett cited sources confirming the imminent announcement. This decision follows Trump’s campaign promise to replace Gary Gensler, the current SEC Chair, on his first day in office.
🚨NEW: @realDonaldTrump’s pick to replace @GaryGensler as @SECGov Chair could be announced as soon as tomorrow, sources tell @FoxBusiness. Stay tuned 📺.
— Eleanor Terrett (@EleanorTerrett) December 3, 2024
Gensler’s tenure, which ends on January 20, 2025, focused on heightened oversight of the crypto sector. Under his leadership, the SEC pursued aggressive enforcement actions and approved spot and futures Bitcoin and Ethereum ETFs. Critics have argued that his regulation-by-enforcement approach stifled innovation in the cryptocurrency space.
Could Paul Atkins Be the Next SEC Chair?
Paul Atkins, a former SEC commissioner, has emerged as the leading candidate with a 70% probability of appointment. Known for his pro-crypto stance, Atkins advocates for clear regulations that promote innovation in digital assets. His balanced regulatory approach could mark a significant policy shift for the SEC.
Other contenders include current SEC Commissioner Mark Uyeda, Robinhood’s Chief Legal Officer Dan Gallagher, and former CFTC Chair Heath Tarbert. Brian Brooks, initially a strong candidate, now holds only a 20% chance, based on recent betting trends.
Atkins’ reputation for supporting fintech and his criticism of Gensler’s policies make him a favorite among industry stakeholders. His potential leadership could reshape the U.S. regulatory landscape, particularly for cryptocurrencies and financial innovation.
The financial industry is closely watching Trump’s decision, as the new SEC Chair will influence regulatory priorities and enforcement strategies. This announcement could bring a significant shift in U.S. crypto policies and market oversight.
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