President-elect Donald Trump’s rumored frontrunner for the SEC chair position, Paul Atkins, is reportedly reluctant to take on the role due to the daunting challenge of managing the agency’s current state, CoinDesk reported on Dec. 3, citing sources familiar with Atkins’ thinking.
Atkins, according to the report sees the job as not attractive, due to the effort needed to turn what he considers to be an agency mismanaged under Gary Gensler, the outgoing SEC chair.
Atkins has been interviewed by Trump’s team and rumors have surfaced this week that he is the next SEC Chair. His hesitation is reported to have caused him to hesitate, but it’s not clear if he accepts.
Atkins is yet to publicly confirm that he will take on the new role. According to sources familiar with the situation, Atkins’ decision is based on a number of factors including the future Patomak Global Partners, his consulting company.
Atkins will have to renounce his own business interests in order to accept the SEC Chair role. Atkins could only take on the SEC chair role when his business is ready to be operated independently, according to the source.
Chris Giancarlo was the chairperson of Commodity Futures Trading Commission for many years. He is a staunch supporter and advocate of Atkins’s candidacy. Giancarlo has argued that Atkins is the right candidate to restore the SEC’s credibility and efficiency.
Giancarlo was outspoken in his calls for SEC reforms, specifically the SEC’s handling of issues related to crypto assets and digital currencies.
However, if Atkins’ conditions are not met, Trump may consider others for the SEC chair role, including current SEC Commissioner Mark Uyeda, former CFTC Chair Heath Tarbert, and Robert Stebbins, a partner at law firm Willkie Farr & Gallagher LLP.
Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.
