Speculation is building over former U.S. President Donald Trump’s anticipated nomination of Paul Atkins as the new chairman of the U.S. Securities and Exchange Commission (SEC), and the Reserve Rights (RSR) token has surged 88% to a multiyear high of $0.017.
This comes amid reports that Trump will appoint Atkins, who has been advising the Reserve Rights Foundation, the issuing organization behind the RSR token. Atkins and Reserve have helped to fuel a rise in the token’s value as investors hitch the potential SEC appointment to a good atmosphere for the cryptocurrency industry.
Paul Atkins Gains Support In Crypto Community For SEC Chair Role
The first we’ve heard of Atkins is that he’s been discussed increasingly in the crypto space. In a Nov. 28 post, Reserve co-creator and CEO Nevin Freeman explained that Atkins, not now but ‘early on,’ was involved with the Reserve project but is not actively consulting for Reserve. Freeman said Atkins was open-minded about crypto and possessed the capacity to engage with and talk to crypto-focused projects.
Freeman said Atkins had been open to working for crypto clients in his consultancy since 2017. “I would be very excited to work with him on productive rulemaking because I think he would do it in a principled way.”
Attorney John Deaton has joined others prominent in cryptocurrency and supports Atkins as the next SEC chair. Deaton advises that he found a pro-crypto lawyer. Sir Deaton praised Atkins as a good pick; he’d heard positive things about him.
It’s a good choice for Paul Atkins, no doubt, but it would be a shame to lose Stebbins. I’ve heard people talk very good things about Atkins,” Deaton wrote on X on Nov. 21. Now, with speculation on Atkins’ appointment, the RSR token has seen huge gains. RSR ran as high as $0.01,7 on Dec. 3, up 88% from a day earlier, but remains way behind its April 2021 all-time peak of $0.11.
Trump has already named several key administration officials and is set to announce his SEC chair picks soon. The identity of the soon-to-be-confirmed new SEC chair remains unknown, but the crypto community is looking ahead to the decision, with Atkins leading the pack.
Atkins’ potential nomination could continue to prop up the value of RSR and possibly other cryptocurrencies as market sentiment grows more bullish for a crypto-friendly SEC under his leadership.
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