ChainCatcher news, Bloomberg senior ETF analyst Eric Balchunas stated that the SEC, led by Gary Gensler, has rejected the application for the Solana ETF, and it is expected that the issuer will resubmit the application after the new SEC chairman Paul Atkins takes office.

ChainCatcher news, Bloomberg senior ETF analyst Eric Balchunas stated that the SEC, led by Gary Gensler, has rejected the application for the Solana ETF, and it is expected that the issuer will resubmit the application after the new SEC chairman Paul Atkins takes office.

ChainCatcher News, former President Donald Trump of the Republican Party announced on Wednesday that he will nominate Paul Atkins to be the chairman of the U.S. Securities and Exchange Commission (SEC). Following the announcement, cryptocurrency prices rose sharply. Current SEC Chairman Gary Gensler is a hardliner, and his ambitious agenda has led to conflicts with Wall Street and the crypto industry.Atkins believes that robust and innovative capital markets can meet the needs of investors and provide the funding necessary to keep the U.S. economy at the forefront. He also recognizes that digital assets and other innovations are crucial for maintaining America's leadership. Atkins is expected to review several rules established under Gensler's tenure and the court enforcement actions, adopt a more lenient approach to cryptocurrencies, and seek rule changes aimed at promoting capital formation.

ChainCatcher news, Coinbase CEO Brian Armstrong expressed agreement with U.S. SEC Commissioner Hester Peirce's view that Paul Atkins is an excellent candidate for the new SEC chair.

ChainCatcher news, SEC Commissioner Hester Peirce posted on the X platform: "At the SEC, we have a lot of work to do to advance free markets, capital formation, investor choice, and innovation. I am pleased that Paul Atkins will be returning to lead this effort; I worked with him during his last tenure at the agency, and I can’t think of anyone better suited for this role."

ChainCatcher news, or due to Trump's nomination of Paul Atkins as the SEC chairman candidate, the project RSR, where Paul Atkins serves as an advisor, has seen a 24-hour increase of 117.62%, currently priced at $0.022.

ChainCatcher news, according to CoinDesk, Paul Atkins is the preferred candidate for SEC chairman by elected President Donald Trump, but accepting this position requires many factors to align. A person familiar with Atkins' thoughts indicated that the role is not appealing to Atkins, as he believes it would require a significant amount of work to reverse the mismanagement of the bloated agency under Gary Gensler, and Atkins is reluctant to leave his global consulting firm.Atkins is a former SEC commissioner and was seen this week at Trump's resort, according to an industry insider. He is scheduled to interview for the SEC chairman position on Sunday and Monday, another person familiar with the meetings stated.It is reported that Atkins is the founder and CEO of Patomak Global Partners, a global consulting firm focused on strategy, risk management, and regulatory compliance. Patomak serves cryptocurrency companies, but they are just part of its diversified business, which also includes traditional financial clients, publicly traded companies, industry associations, law firms, banks, and insurance companies. Before founding Patomak, Atkins served as a commissioner of the SEC from 2002 to 2008, appointed by former U.S. President Bush. During his tenure at the SEC, Mark Uyeda and Hester Pierce worked under Atkins, the latter of whom also became an SEC commissioner.

According to ChainCatcher, Trump has chosen Paul Atkins to serve as the chairman of the U.S. Securities and Exchange Commission (SEC), according to three people familiar with the matter. One source revealed that Trump has reached out to Atkins and is awaiting his acceptance. Atkins' spokesperson did not immediately respond to a request for comment.Current SEC Chairman Gary Gensler will leave office on January 20. Additionally, Atkins will need to be confirmed by the Senate, unless Trump opts for a recess appointment during the Senate's recess. Paul Atkins previously served as an SEC commissioner during the George W. Bush administration and is known for opposing "high fines for companies that violate securities laws." He has been a supporter of the cryptocurrency industry and is still active in his consulting firm, Patomak Global Partners, which he founded in 2009. Meanwhile, since 2017, he has also served as co-chair of the Token Alliance, an industry association advocating for digital assets and the blockchain industry.

ChainCatcher news, FOX Business reporter Eleanor Terrett posted on X that sources revealed Trump is expected to announce the successor to Gary Gensler as the new SEC chairman as early as tomorrow.

ChainCatcher news, according to informed sources, the transition team of President-elect Trump has interviewed veteran financial regulator and behind-the-scenes figure in the conservative financial sector, Paul Atkins, as a candidate for the chairman of the U.S. Securities and Exchange Commission (SEC).Informed sources say that Atkins is the leading contender to succeed the outgoing Gensler. They stated that Trump is expected to make a choice in the coming days, and no decision has been made yet. Atkins served as an SEC commissioner during the George W. Bush administration, and later founded Patomak Global Partners, a consulting firm for major financial industry clients. He is a strong supporter of digital assets and financial technology companies. He has also testified before Congress on how to restructure the agency's operations and reduce what some industry insiders consider redundant or overly burdensome regulatory requirements.

ChainCatcher news, FOX reporter Eleanor Terrett cited sources reporting that among the senior members of Trump's transition team, former SEC commissioner Paul Atkins remains the most likely candidate to lead the SEC. Paul Atkins is not only well-versed in cryptocurrency but also has an in-depth understanding of the agency's internal workings as a former commissioner and a staff member for former SEC chairs Richard C. Breeden and Arthur Levitt.

ChainCatcher news, crypto lawyer John Deaton stated that SEC Chairman Gary Gensler, while refusing to meet with U.S. cryptocurrency executives like Coinbase CEO Brian Armstrong and Kraken CEO Jesse Powell, held a private meeting with FTX's SBF. He questioned whether the $10 million donation from SBF to politicians was related to the special regulatory treatment he received and demanded that the SEC make the relevant meeting records public.

ChainCatcher News, the U.S. House of Representatives will address Congressman Mike Flood's recent statement: "Despite widespread opposition, SAB 121 continues to operate as a regulation, even though it has never gone through the normal Administrative Procedure Act process."Flood stated: "I look forward to working with the next SEC Chair to rescind SAB 121. Whether Chair Gary Gensler resigns on his own or President Trump fulfills his (promise to fire Gensler), the new administration has a tremendous opportunity to usher in a new era post-Gensler."He added: "Gensler's opposition to the bipartisan digital asset regulatory framework passed by the House earlier this year should come as no surprise. 71 Democrats joined House Republicans in passing this commonsense framework. Although the Democrat-led Senate refused to accept it, it represents a breakthrough moment for cryptocurrency and could inform the work of a unified Republican government when the next Congress begins in January."

ChainCatcher news, according to Crypto Briefing, SEC Commissioner Mark Uyeda stated in an interview with Fox Business that he supports establishing a safe harbor and regulatory sandbox mechanism in the cryptocurrency space to promote innovation.As a leading candidate for SEC Chairman under the Trump administration, Uyeda emphasized the need to end the so-called "crypto war" and to create a clearer regulatory framework. Uyeda pointed out that "many crypto assets are not actually securities, yet they are labeled as such." He stressed the importance of collaboration between Congress, the White House, and regulatory agencies in establishing a comprehensive regulatory framework.