Donald Trump to Announce US SEC Chair Tomorrow: Sources

The crypto space has long been anticipating the next US Securities and Exchange Commission (SEC) Chair, and reports now suggest that President-elect Donald Trump could announce the successor as soon as tomorrow.

🚨NEW: @realDonaldTrump’s pick to replace @GaryGensler as @SECGov Chair could be announced as soon as tomorrow, sources tell @FoxBusiness. Stay tuned 📺.

— Eleanor Terrett (@EleanorTerrett) December 3, 2024

According to FOX Business reporter Eleanor Terrett, citing sources, Trump is expected to announce the SEC Chair’s successor imminently. Following this tweet, the crypto space is once again buzzing with anticipation, with many predicting that Paul Atkins could be the next Chair. Paul Atkins, a veteran financial regulator, was reportedly interviewed by Donald Trump’s transition team, according to some sources.

Donald Trump’s SEC Chair : A Tale of Exits and Entries

If this is true, Atkins, the former SEC Commissioner, joins the competitive mix of contenders considered by Trump’s team. Other candidates for the role include Teresa Goody Guillén, a seasoned SEC veteran; Robert Stebbins, a partner at Willkie Farr & Gallagher LLP; Dan Gallagher, Robinhood’s Chief Legal Officer; Brad Bondi, a partner at Paul Hastings; and Brian Brooks, the former Acting Comptroller of the Currency.

Since the announcement that current SEC Chair Gary Gensler will resign effective January 20, 2025, at noon, many names have been floated for the 34th SEC Chair role. Following this announcement, another anti-crypto SEC Commissioner, Jaime Lizárraga, also announced his resignation on January 17, 2025, citing personal reasons related to his wife’s health.

These announcements have brought a sense of relief to crypto executives and industry veterans. Coinbase’s CEO recently revealed plans to avoid cooperation with law firms that hire anti-crypto individuals, especially from the current SEC regime. Meanwhile, several others are preparing their next steps in anticipation of a more favorable environment.

Ripple’s Chief Legal Officer, Stuart Alderoty, outlined his vision for future SEC crypto regulation in a recent X post. He proposed resolving non-fraud crypto cases quickly to focus on fraud and investor protection. He emphasized retaining collaborative commissioners like Hester Pierce and Mark Uyeda, clarifying jurisdiction through cooperation with Congress and regulators, and rejecting unclear frameworks such as the 2018 Hinman speech. Alderoty also called for increased transparency by reforming the FOIA process and restoring public trust by strengthening accountability within the SEC.

All in all, the latest news is a significant relief for crypto enthusiasts. With several pro-crypto SEC chair candidates in the race, one thing is clear: everyone is betting on better regulations and a more crypto-friendly business environment.

Also Read: Donald Trump to Grant SEC’s Crypto Regulatory Authority to CFTC