Joe Biden Taps Ex-CFTC Chief Gary Gensler as SEC’s Chairman


Gary Gensler, a Washington and Wall Street veteran who has closely studied the cryptocurrency field, is expected to be named chairman of the US SEC.

January 13, 2020 | AtoZ MarketsThe post of head of the US Securities and Exchange Commission (SEC) will be taken by financier Gary Gensler, according to Reuters, citing sources.

When will Gary Gensler be appointed as SEC chairman?

According to the newspaper, the appointment will take place after the inauguration of Joe Biden. Gensler previously worked for Goldman Sachs. From 2009 to 2014, he chaired the Commodity Futures Trading Commission (CFTC).

Gensler also conducted research at the Massachusetts Institute of Technology on the intersection of the fintech sphere and public policy, lectured on blockchain and digital currencies. In the past, he has argued against comparing cryptocurrencies to the Ponzi scheme. In 2018, the financier stated that trading Ethereum and Ripple could violate US laws.

In November, Gensler spearheaded Biden’s transition plan for financial supervision.

As a reminder, on December 23, 2020, Jay Clayton left the post of SEC chairman. Under his leadership, the commission was unfriendly towards the crypto industry, refused to register new products, and waged legal battles with companies.

Read also: SEC Files Lawsuit Against Ripple Over $1.3 Billion Unregistered Securities Sale

However, on December 25, Elad Roizman became the interim chairman of the SEC.

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