Paul Atkins, a known advocate for cryptocurrency, has been appointed by President-elect Donald Trump to lead the Securities and Exchange Commission (SEC). Previously an SEC commissioner from 2002 to 2008, Atkins will take over from Gary Gensler on January 20.
This appointment marks a significant shift towards more lenient financial regulation policies, likely reducing regulatory burdens and promoting innovation in the capital markets.
The cryptocurrency market responded favorably to Atkins' selection, as the values of digital assets like Reserve Rights (RSR) saw significant surges.
Atkins' prior role as an advisor to the RSR project added to the market's enthusiasm about his leadership.
Furthermore, XRP experienced a 3% rise, influenced by Atkins' criticisms of the SEC's legal actions against Ripple.
Trump’s commitment to incorporating libertarian perspectives and protecting cryptocurrency aligns with this strategic appointment, as noted by political journalist Eric Daugherty.
