WASHINGTON (AP) — President-elect Donald Trump announced Wednesday that he intend to nominate cryptocurrency advocate Paul Atkins to chair the Securities and Exchange Commission.

Trump said Atkins, the CEO of Patomak Partners and a former SEC commissioner, was a “proven leader for common sense regulations.”

“He believes in the promise of robust, innovative capital markets that are responsive to the needs of Investors, & that provide capital to make our Economy the best in the World. He also recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before,” Trump wrote on Truth Social.

The commission oversees U.S. securities markets and investments.

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If confirmed next year by the new Republican-led Senate, Atkins would replace Gary Gensler as the commission’s chair.

Gensler has pushed for protections that he says better serve investors. But he has been a frequent target of critics who say that the SEC under his leadership has been overly zealous, if not hostile, toward the investment industry.