How Is Trump’s SEC Chair Paul Atkins Crypto Approach Different from Gensler?

Paul Atkins, Donald Trump’s pick to lead the SEC, is steering the agency toward a starkly different regulatory philosophy than his predecessor, Gary Gensler. Where Gensler favored aggressive enforcement and broad interpretations of securities law, Atkins prioritizes clarity and a lighter touch—particularly for crypto.

Atkins has vowed to target only egregious fraud, drawing a sharp line between bad actors like Bernie Madoff and firms making technical missteps. "We’ll leave you naked, homeless and without wheels," he told the Financial Times about deliberate malfeasance. But for minor violations? Regulators will first issue warnings instead of immediate penalties.

The shift is most pronounced in crypto policy. Gensler’s assertion that most tokens qualify as securities faces direct opposition from Atkins, who argues digital assets demand tailored rules. His proposed solution: a unified licensing framework covering trading, lending, and staking to simplify compliance while legitimizing the industry.