Following former President Donald Trump’s announcement of his intent to nominate Paul Atkins as SEC Chairman, Ripple executives expressed strong support for the crypto-friendly pick. Atkins, CEO of Patomak Partners and a former SEC commissioner, has been nominated pending a potential second Trump term.
Ripple CEO Brad Garlinghouse lauded the nomination, calling Atkins “an outstanding choice” who will “bring common sense back to the agency.” Garlinghouse further emphasized the opportunity for a regulatory shift, stating, “Along with Hester Peirce and Mark Uyeda, it’s time to swiftly and definitively end the prohibition era on crypto, restoring freedom of choice, economic growth, and innovation.” This statement suggests an expectation of a more permissive regulatory environment for cryptocurrencies under Atkins’ leadership.
Ripple Chief Legal Officer Stuart Alderoty echoed Garlinghouse’s sentiment, adding that the potential “triumvirate of Atkins, Peirce, and Uyeda at the SEC will not only bring common sense back to the agency, but true investor protection as well.” This comment highlights Ripple’s ongoing legal battle with the SEC and suggests a belief that Atkins’ leadership could lead to a more favorable outcome for the company.
Trump’s Truth Social post announcing the nomination praised Atkins as a “proven leader for common sense regulations” who understands the importance of innovation in capital markets. Trump emphasized Atkins’ recognition of digital assets as “crucial to Making America Greater than Ever Before,” signaling a potential shift in regulatory approach from the current administration.
The SEC, currently led by Gary Gensler, has taken a stricter stance on the crypto industry under the Biden administration. Gensler announced his resignation effective January 20, 2025, coinciding with the potential inauguration of Trump. The prospective appointment of Atkins suggests a potential departure from Gensler’s regulatory approach and a move towards a more innovation-focused environment for the cryptocurrency sector.
