Trump Nominates Crypto-Friendly SEC Chair, Antitrust Chief to Shape Tech Policy

Reese Morgan

Reese Morgan

December 04, 2024 · 4 min read
Trump Nominates Crypto-Friendly SEC Chair, Antitrust Chief to Shape Tech Policy

President-elect Donald Trump has made two key nominations that will significantly shape his administration's tech enforcement and policy, particularly in the realms of cryptocurrency and antitrust. On Wednesday, Trump announced his picks for the Securities and Exchange Commission (SEC) chair and the Department of Justice's (DOJ) Antitrust Division chief, both of whom are expected to have a profound impact on the tech industry.

Trump's nomination of Paul Atkins, a former Republican SEC Commissioner, to lead the agency is seen as a significant departure from the current crypto policy under Biden-appointed chair Gary Gensler. Atkins, who co-chairs the Token Alliance at the Digital Chamber, a group dedicated to the use of digital assets, has been a vocal advocate for the potential of digital assets and innovations. In his announcement, Trump emphasized Atkins' recognition of the importance of digital assets in "Making America Greater than Ever Before."

The selection of Atkins suggests a potential shift in the SEC's stance on cryptocurrency, which has been a subject of intense scrutiny and debate in recent years. Under Gensler's leadership, the SEC has taken a more cautious approach to crypto, with a focus on regulating and enforcing existing laws. Atkins' nomination, on the other hand, may signal a more crypto-friendly approach, which could have significant implications for the industry.

In addition to Atkins, Trump also nominated Gail Slater to lead the DOJ's Antitrust Division, which is currently litigating two anti-monopoly suits against Google and a third against Apple, as well as reportedly probing AI-chipmaker Nvidia. Slater, who has previously worked at the Federal Trade Commission, in Trump's National Economic Counsel, and most recently as Vice President-elect JD Vance's economic policy advisor, brings a wealth of experience in antitrust policy to the role.

Slater's nomination is notable not only for her experience but also for her history of working across the aisle. She has served as an attorney advisor to former Democratic FTC Commissioner Julie Brill, who now works as Microsoft's chief privacy officer. This bipartisan background, combined with her work for Vance, who has publicly praised Biden's FTC Chair Lina Khan for her aggressive approach toward tech, suggests that Big Tech will remain a key target of antitrust scrutiny in the years to come.

Trump's announcement, made on Truth Social, also included a reference to "Little Tech," a term popularized by venture capitalist and crypto supporter Marc Andreessen. Andreessen has pushed for the recognition of a contrast between policies that benefit startups versus the largest tech players. Trump's use of the term suggests that his administration may be more sympathetic to the concerns of smaller tech companies and startups.

The implications of these nominations are far-reaching and will likely have a significant impact on the tech industry in the years to come. As the Senate prepares to confirm Atkins and Slater, the industry will be watching closely to see how their leadership shapes the future of tech policy and enforcement.

In conclusion, Trump's nominations of Atkins and Slater signal a potential shift in the administration's approach to tech policy, particularly in the realms of cryptocurrency and antitrust. As the industry continues to evolve and grow, these nominations will have significant implications for the future of tech and innovation in the United States.

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