President-elect Donald Trump has reportedly interviewed former SEC Commissioner Paul Atkins for the position of SEC chair, though sources indicate Atkins is reluctant to accept the role. According to reports by CoinDesk, Atkins has expressed concerns about the significant challenges posed by the agency’s perceived mismanagement under outgoing SEC Chair Gary Gensler.

Atkins, who served as SEC commissioner from 2002 to 2008, is the founder and CEO of Patomak Global Partners, a consulting firm specializing in regulatory compliance. Sources familiar with the matter suggest that Atkins is hesitant to leave his position at Patomak and take on the task of addressing what he views as a “bloated” SEC structure left by Gensler. “The amount of work needed to turn around the agency is immense,” said a person close to Atkins.

Atkins was reportedly seen at Trump’s Mar-a-Lago estate, participating in interviews for the SEC chair position earlier this week. However, his hesitation underscores the complexity of leading the agency as it faces significant challenges, including criticism of its approach to digital assets and an expected policy shift under the Trump administration.

While Atkins is regarded as the top choice, other names are being considered. These include:

• Teresa Goody Guillén, a crypto attorney with strong industry support and known for her pro-crypto stance.
• Heath Tarbert, Circle’s Chief Legal Officer and former CFTC Chair.
• Brad Bondi, a securities lawyer with ties to the Trump administration but limited Bitcoin and crypto experience.
• Norm Champ, a former SEC investment management director, whose traditional background has garnered mixed reactions.

SEC Commissioners Mark Uyeda and Hester Pierce, both viewed favorably within conservative circles, have also been discussed. If a permanent chair is not confirmed by January 20, Uyeda may serve as acting chair. Pierce has reportedly declined interest in the role.

Trump’s administration is expected to pivot the regulatory framework for digital assets, reducing SEC oversight in favor of the Commodity Futures Trading Commission (CFTC). The CFTC, which is perceived as more industry-friendly due to its focus on sophisticated institutional traders, may take on a larger role in overseeing the $3 trillion digital assets market.

As the selection process continues, experts suggest that the decision could signal a broader strategy for integrating Bitcoin into U.S. financial systems. For now, Atkins’ reluctance leaves the role of SEC chair unresolved, adding uncertainty to the agency’s future direction.

CoinDesk Article