Atkins' nomination is being celebrated by prominent figures in the crypto industry. Cameron Winklevoss, co-founder of cryptocurrency exchange Gemini, said that Atkins is a “great choice” as next Chair of the SEC.

Mr. Atkins, a pro-business conservative, would likely take a lighter regulatory approach than the current chair of the Securities and Exchange Commission.

Trump said Atkins, the CEO of Patomak Partners and a former SEC commissioner, was a “proven leader for common sense regulations.”