U.S. Republican President-elect Donald Trump on Wednesday said he would nominate Paul Atkins to run the Securities and Exchange Commission, putting a prominent conservative Washington insider atop Wall Street's major regulator.

President-elect Donald Trump has named Paul Atkins to lead the Securities and Exchange Commission, his latest move to fill key financial roles in the next administration.

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.