Crypto is getting the SEC boss it wanted in Paul Atkins

Published On Dec 5, 2024, 4:00 AM

President-elect Donald Trump has nominated Paul Atkins to lead the U.S. Securities and Exchange Commission (SEC), a decision that has been favorably received by the cryptocurrency industry. Atkins, known for advocating clearer regulations that support innovation, is expected to shift the SEC's approach from that of the outgoing chair, Gary Gensler, who was seen as hostile towards crypto. This nomination could pave the way for more favorable regulations for digital assets and potentially encourage growth within the U.S. crypto market while also reinvigorating Bitcoin and Ethereum prices. Overall, the crypto market is showing optimistic signs in response to this nomination.

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The nomination of Paul Atkins is also positive for Coinbase, which has faced challenges under the previous SEC administration. If Atkins decides to ease restrictions and increase regulatory clarity, it would likely support the stock, attracting more investors and possibly driving the price higher.

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