Trump has promised to fire the current SEC chief Gary Gensler on the first day in the White House. He is disliked by companies associated with cryptocurrencies since the industry has been heavily scrutinized during his time in office.
When Atkins previously worked within SEC between 2002 and 2008, he often took a stance that favored the crypto industry, according to CNBC.
Trump is now nominating Atkins via his social media platform Truth social. In the text, Trump praises Atkins as a "proven leader for regulations characterized by common sense".
Furthermore, the future president writes, Atkins understands that "digital assets and other innovations are crucial to making America greater than ever before".
After Trump's announcement, the price of bitcoin strengthened, from approximately 95,700 dollars per bitcoin to 98,600 four to five hours later.
Ahead of the US election, the crypto industry poured in 245 million dollars (nearly 2.7 billion kronor) in support of various candidates. The industry thus accounted for almost half of all dollars invested by companies in the election.
It paid off. The majority of seats in the new congress will be held by members who are favorably inclined towards cryptocurrencies.
