Jay Dubow, co-leader of Troutman Pepper’s Securities Investigations + Enforcement Practice Group, was quoted in the December 5, 2024 FundFire article, “Trump Picks Crypto-Friendly Former Commish to Chair SEC.”

Trump’s move to bring on the “pro-crypto” Atkins was aimed in part at sending a message to the industry that the administration is embracing digital assets, said Jay Dubow, a partner at Troutman Pepper and former branch chief in the SEC’s enforcement division.

He is also expected to dial back much of Gensler’s rulemaking and enforcement agenda, Dubow added. “Gensler did a lot of different rulemaking initiatives that seemed to push the envelope, things like ESG and some of his other areas,” he said. “You’re not going see that now [with Atkins].”

Still, he added, “No one that commits fraud is going to get a pass.”

Trump has promised to bolster crypto investing through a more relaxed regulatory environment. He previously shared plans to create a new post within the White House to handle crypto policy.

It is unclear whether the SEC under Atkins would try to promulgate its own rules or wait for Congress to establish regulations, said Dubow.

“[P]art of the problem in the crypto enforcement space… is [the SEC was] using age-old securities laws to fit a square peg in a round hole, rather than have specific rules that were designed to address issues in the crypto world,” Dubow said.

“I can’t imagine there’s going to be any issue with Atkins being confirmed,” said Dubow.