“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.

It brings one of Washington’s key financial policy influencers to the forefront of US market oversight.

“He also recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before.”

If confirmed, Atkins will guide the SEC through a potential new era of deregulation for Wall Street, following nearly four years of stringent rulemaking under current chair Gary Gensler, according to Politico. His role will also involve navigating significant policy debates surrounding the $3 trillion cryptocurrency market, artificial intelligence, and the implications of capital-raising in the US.

Atkins previously served as an SEC commissioner in the early to mid-2000s before establishing his consultancy firm, Patomak Global Partners.

He was instrumental during the first Trump transition, advocating for changes in financial regulation. A vocal critic of various reforms implemented after the 2008 financial crisis, he has expressed opposition to corporate penalties and climate-related disclosure requirements.