Trump names 'friendly currency' person to head Securities and Exchange Commission

U.S. President-elect Donald Trump has named former SEC commissioner Paul Atkins as the next SEC chairman.

Atkins, who has been co-chair of the Digital Chamber of Commerce's "Token Alliance" since 2017, is considered a pro-credit figure.

In a post on social media "Truth Social" on the 4th local time, Trump introduced Atkins as a "proven leader for common sense regulation."

"Atkins is well aware that digital assets and other innovations are critical to making America greater than ever," he added.

Atkins is also the founder and CEO of Fatomak Global Partners, a crisis management consulting firm.

The New York Times said Fatomak "has recently been advising clients on issues related to virtual currency and digital assets."

During the last presidential election, Trump promised to "make the United States the capital of cryptocurrencies," signaling a fairly favorable policy for cryptocurrencies.

Therefore, Atkins is expected to ease much of the restrictions on virtual currencies, which have been led by the Biden administration SEC.