Why Trump’s SEC Chair Pick, Paul Atkins, Is So Positive for Crypto - Ep. 745
Unchained
Regulatory Evolution in Crypto
This chapter explores upcoming regulatory changes for cryptocurrency, emphasizing the roles of the SEC and CFTC under a new administration. It discusses the potential for clearer regulations and the possibility of appointing a 'crypto czar' to enhance oversight of digital assets.
With the nomination of the pro-crypto Paul Atkins to be the next SEC chair, the crypto industry is potentially facing a 180 from the agency. As co-chair of The Digital Chamber’s Token Alliance initiative and a board member of Securitize, Atkins is not only pro-crypto, but also against the type of “regulation by enforcement” strategy of current Chair Gary Gensler.
In this episode, Cody Carbone, president at The Digital Chamber, explains why Atkins is likely to start reassessment of the agency’s lawsuits against crypto firms, why Trump might break with protocol to fill one of the commissioner seats that would typically be filled by a Democrat, and who he thinks might make for a good “crypto czar.”
Show highlights:
- Why Cody that Atkins leading the SEC would be a massive transformational shift
- What can be expected from Atkins given his prior experience
- What crypto cases might be dropped under his leadership
- Whether Atkins could provide rulemaking before Congress passes legislation
- Cody’s hard criticism of Gary Gensler’s modus operandi
- Why Cody thinks Trump could surprise people when it comes to replacing Democratic Cmr. Jaime Lizárraga
- How long it could take for Congress to confirm Atkins
- Why Cody believes that Atkins will support Hester Peirce’s Safe Harbor proposal
- Whether the CFTC will be the primary regulator of the crypto industry in a Trump administration
- Whether the U.S. will have a crypto czar and who it could be
- What crypto legislation Cody thinks is likely to be passed in 2025
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Guest
- Cody Carbone, President at The Digital Chamber
Links
- Trump’s Office Picks:
- Unchained:
- Trump Taps Paul Atkins for Next SEC Chair, Making Good on His Crypto Promises
- Democratic SEC Commissioner Is Stepping Down, but That Doesn’t Mean Trump Will Get 2 Outright Picks
- Trump Taps Hedge Fund Manager Scott Bessent to Be Treasury Secretary
- Trump’s Plans for a ‘Crypto Czar’ and a Crypto Advisory Council: Here’s What We Know
- A Degen Administration? Why the Crypto Czar May Be Allowed to Own Tokens
- Tracking Trump’s Cabinet and Staff Nominations
- Congressional Results
- John Reed Stark’s tweet:“current SEC Chair Gary Gensler is quietly working behind the scenes to lead the SEC from the grave”
- Buckley LLP Infobytes Blog: SEC commissioner proposes cryptocurrency safe harbor
- Fox Business: Perianne Boring among contenders to lead agency involved with crypto in Trump admin
Timestamps:
- 00:00 Intro
- 02:19 Why Cody believes Atkins would be a transformational SEC chair
- 03:13 Insights from Atkins’ past experience and what it means for crypto
- 07:19 SEC/crypto cases likely to be dropped under Atkins’ leadership
- 14:31 Potential for SEC rulemaking before Congress passes legislation
- 18:19 Cody’s critique of Gary Gensler’s regulatory approach
- 21:13 Why Trump might break with protocol to replace Democratic commissioner Jaime Lizárraga
- 23:27 Expected timeline for Congress to confirm Atkins
- 26:52 Support for Cmr. Hester Peirce’s Safe Harbor proposal
- 28:18 An expanded role for the CFTC in crypto regulation?
- 31:37 Speculation on the potential for a U.S. crypto czar
- 35:03 Key crypto legislation to watch for in 2025
- 38:24 Crypto News Recap
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