![]() ![]() His selection as SEC chair signals a policy shift in favor of a bitcoin ETF. “Gary Gensler deeply understands crypto & has strongly supported bitcoin for years. However, as some experts suggest, his appointment could spell good news for the ill-fated Bitcoin ETFs. The Wall Street veteran is also known for his statements about XRP being a security, which means that the SEC’s crusade against Ripple, the company behind the token, is likely to continue. The crypto exchanges, big exchanges like Coinbase, need to come within the SEC or the CFTC.” “That means we need to guard against illicit activity. “If it gets broad adoption, if we really think the crypto world is going to be part of the future, it needs to come inside of public policy envelope,” Gensler said in a Bloomberg TV interview in 2018. In recent months Gensler advocated for a nationwide regulatory oversight of the crypto industry. He later served as a key financial regulator for former President Barack Obama.Īs the Chairman of the CFTC from 2009 to 2014, he spearheaded the passing of the Dodd-Frank law in 2010, which was intended to prevent another financial crisis. Gensler spent nearly 20 years at Goldman Sachs in the 1980s and 1990s before joining the Clinton administration as Assistant Secretary of the Treasury. The US President-elect Joe Biden today named his pick to lead the US Securities and Exchange Commission: former CFTC Chairman Gary Gensler. Gary Gensler is probably the most crypto-informed person to lead the SEC. ![]() Reports that Gary Gensler is set to take over the SEC emerged last week.Gary Gensler, former partner at Goldman Sachs, became part of Biden’s transition team in November.
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