2024-12-04 19:29:00
Cryptocurrencies are preparing for a regulatory and supervisory upheaval under Donald Trump. The president-elect announced wednesday that he will nominate cryptocurrency advocate Paul Atkins for chairman of the Securities and Exchange Commission (SEC). This is a 180-degree turn from the current supervisory chief, Gary Gensler, who has been very tough on the industry during his tenure. Gensler recently announced that he will leave office on January 20, when Trump takes office. The appointment of the new SEC president requires Senate confirmation.
“Paul is a proven leader in common-sense regulation,” Trump wrote this on his social network Truth at the time of the announcement. “he believes in the promise of strong,innovative capital markets that respond to investor needs and provide capital to make our economy the best in the world. “It also recognizes that digital assets and other innovations are crucial to making the United States a better country than ever before,” he added.
Atkins is already familiar with the watchdog, having served as one of its commissioners between 2002 and 2008 after being appointed by George W. Bush. He is CEO of Patomak Global partners, a strategic consultancy firm for large financial clients that he founded after leaving his supervisory position. As co-chair of the Digital ChamberS Token Alliance as 2017, he has worked to advocate for the cryptocurrency industry.
Trump is a convert when it comes to digital assets. He started out as a skeptic who considered cryptocurrencies a scam before embracing the cause (with his constituents and their millions). During the election campaign he promised to transform the United States into the “cryptocurrency capital of the world” and create a “strategic reserve” of bitcoin. Additionally, he also launched World Liberty Financial, a new cryptocurrency trading firm in which he participates with his three sons, Donald Trump, Eric Trump and Barron Trump, as well as other partners.
Since his victory at the polls on November 5, the price of cryptocurrencies has skyrocketed.Bitcoin, the main one, exceeds 95,000 dollars. The industry is hoping that Trump will push for long-needed legislative and regulatory changes, and Paul Atkins’ appointment is a step in that direction.
Beyond his role in the industry, the future president is perceived as more tolerant of Wall Street. Atkins is expected to focus on simplifying and eliminating regulations and imposing lighter penalties for violations.
During his time as SEC commissioner, Atkins spoke out against large fines imposed on companies, saying they ultimately hurt shareholders. He also recalled that the SEC’s mandate is not only to protect investors, but also to increase competition and efficiency in the markets. The regulator “should not drive those same investors out of our markets with onerous regulations or eat the fruits of their investments with meaningless mandates,” Atkins said in a speech given in 2007.
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interview Between the Time.news Editor and an Expert: Climate Change and Its Global Impacts
Time.news Editor (TNE): Welcome to Time.news. Today, we’re diving deep into a pressing global issue—climate change. I’m joined by dr. Emily Carter, a leading climate scientist who has been studying the effects of climate change on ecosystems and human societies for over two decades. Dr. Carter,thank you for being here.
Dr. Emily Carter (DEC): Thank you for having me. It’s a pleasure to discuss such an notable topic.
TNE: Let’s start with the basics. can you explain how climate change is currently affecting our planet?
DEC: Absolutely. Climate change is primarily driven by human activities, such as burning fossil fuels and deforestation, wich increases greenhouse gases in the atmosphere. This leads to rising global temperatures, which in turn causes severe weather events, melting polar ice caps, rising sea levels, and disruptions to ecosystems. We’re already seeing the impacts on agriculture, health, and biodiversity.
TNE: It sounds alarming. Could you elaborate on how these changes are directly affecting people’s lives around the world?
DEC: Certainly. One of the most immediate impacts is on food security. Changes in temperature and precipitation patterns affect crop yields, which can lead to shortages and increased prices. Additionally, extreme weather, such as hurricanes and floods, can displace communities, leading to climate refugees. we’re also observing health issues—heatwaves,respiratory problems from poor air quality,and the spread of infectious diseases are all linked to climate change.
TNE: Those personal impacts really hit home. Now, there’s a lot of discussion around renewable energy and its role in mitigating these effects.How effective are these solutions in combating climate change?
DEC: Renewable energy is a crucial part of the solution. Transitioning to solar, wind, and hydroelectric power substantially reduces greenhouse gas emissions. While no single solution will address the crisis, implementing a combination of renewables, energy efficiency measures, and changes in consumption patterns can greatly reduce our carbon footprint. However, it requires coordinated global action and investment.
TNE: Speaking of global action, how do you perceive international efforts, like the Paris Agreement, in addressing climate change?
DEC: The Paris Agreement is a vital framework for international cooperation. It sets targets for countries to reduce their greenhouse gas emissions and encourages clarity and accountability. However,the challenge lies in ensuring that all countries adhere to their commitments and increase their ambitions over time. There’s still a long road ahead, but positive steps are being taken.
TNE: That’s encouraging to hear. What do you think individuals can do to contribute to these global efforts?
DEC: Individuals can make a difference through everyday choices. This includes reducing energy consumption, choosing lasting products, minimizing waste, and supporting policies and businesses that prioritize environmental stewardship. Moreover, advocating for change—whether by voting, raising awareness, or educating others—is crucial in driving collective action.
TNE: That’s empowering advice.what message would you want to leave our readers regarding climate change and its future?
DEC: Climate change is one of the greatest challenges of our time,but it’s not insurmountable. We have the science, the technology, and the resources to combat it—but we need action now. It’s a collective responsibility, and every small effort contributes to a larger change. together, we can create a sustainable future for our planet.
TNE: Thank you, Dr. Carter, for shedding light on this critical issue. It’s clear that understanding climate change and taking action is essential for the well-being of current and future generations.
DEC: Thank you for having me. Let’s keep the conversation going!
TNE: Absolutely! And to our viewers,stay informed and engaged as we all play a role in this global challenge.