Lynn Johannson, Advisor, Sustainability and ESG
January 4th, 2024
Lynn Johannson, President of E2 Management Corporation and Catalyst for THE Collaboration
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Trump Picks SEC Chair, Shakes Up Crypto and Oversight
SEC | Dec 4, 2024
Image: Freepik
Trumps Key Picks: Crypto Advocate for SEC Chair and New Co-Leadership at Crypto Assets Unit
President-elect Donald Trump announced key picks at the SEC that could have huge implications for the crypto industry and financial regulation at large.
Paul Atkins, A Crypto Advocate for SEC Chair
Former SEC Commissioner and known crypto advocate, Paul Atkins, is Trump's pick for SEC Chair. Atkins has been vocal about a balanced regulatory approach, favouring innovation while addressing risks. This is a sharp contrast to the current regulatory climate under Gary Gensler who more or less followed a regulation by enforcement approach towards the crypto industry (he already announced he's leaving Jan 20, 2025). Atkin's leadership signals more industry friendly policies.
New Leadership at the SEC’s Crypto Assets Unit
Also individually announced on their Linkedin profiles, the SEC's Crypto Assets and Cyber Unit will have leadership changes. Laura D’Allaird and Mark Sylvester have been named Co-Chiefs of the division and are tasked with overseeing enforcement actions in the growing crypto / digital assets sector. Both bring extensive legal experience.
Why It Matters
The above leadership changes at the SEC could be a significant turning point for cypro regulation and enforcement in the U.S. and how America will handle financial regulation in the future.
See: Gary Gensler Resigns as SEC Chair, Leaving January 20
If Paul Atkins becomes SEC Chair his approach might make it easier for regulators and the crypto industry to work together resulting in fewer conflicts and more support for innovation. Concurrenty, the new co-leaders of the SEC's Crypto Assets and Cyber Unit are likely to keep a strong focus of enforcing the rules to keep crypto firms in check and remaining compliant.
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