The News
US President-elect Donald Trump named a cryptocurrency enthusiast to lead the Securities and Exchange Commission, Wall Street’s watchdog.
Conservative lawyer and former SEC commissioner Paul Atkins is a regulatory skeptic who is likely to be friendlier to the crypto market, The Wall Street Journal wrote, a contrast from the agency’s current approach: Under the Biden administration, the SEC has sued several large crypto exchanges.
By choosing Atkins, Trump is “delivering on a promise he made to the crypto community,” crypto outlet Unchained wrote.
Trump’s embrace of the sector has seen the emergence of new tokens designed around viral moments — like the Thai pygmy hippo Moo Deng — in hopes of taking advantage of a more favorable regulatory environment.