The nomination caps off weeks of speculation over who will head up the independent agency following SEC Chair Gary Gensler's announcement last month he would step down from the post once Trump is sworn into office.
"Paul is a proven leader for common sense regulations. He believes in the promise of robust, innovative capital markets that are responsive to the needs of Investors, & that provide capital to make our Economy the best in the World," Trump wrote in a Truth Social post Wednesday.
"He also recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before," the president-elect added.
Trump's nod to Adkins' embrace of cryptocurrency is the latest signal the incoming Trump administration is expected to be much more friendly to the crypto industry than Gensler, who took a more hardline approach.
Trump was widely expected to pick a more crypto-friendly candidate after fully embracing the industry during his campaign. Despite previously dismissing crypto as a "scam," he has since vowed to make the U.S. the "crypto capital of the planet."
HIs pick for Treasury secretary, Scott Bessent, is also known to have a friendlier approach to crypto.
Atkins, CEO and founder of financial services consultancy Patomak Global Partners, currently serves as co-chair of the Digital Chamber's Token Alliance.
The crypto industry celebrated his nomination Wednesday. Blockchain Association CEO Kristin Smith touted Atkins an "excellent choice."
"The past four years under Chair Gensler was a non-stop anti-crypto crusade, leading to an innovation stalemate and incalculable job, talent, and economic losses," Smith said in a statement.
Read the full story at TheHill.com.
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