Donald Trump selected Paul Atkins to chair the Securities and Exchange Commission, the president-elect said in a social media post Wednesday.Atkins is CEO and founder of risk consultancy Patomak Global Partners,

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.

President-elect Donald Trump on Wednesday picked conservative lawyer Paul Atkins to run the Securities and Exchange Commission, choosing a regulatory skeptic who will be expected to cut red tape and rein in the agency’s enforcement division.