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Ex-CFTC head Gary Gensler to head SEC

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Financier Gary Gensler will take over as head of the US Securities and Exchange Commission (SEC).

Most likely the appointment will take place after Joe Biden’s inauguration.

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.

Recall, on December 23, 2020, Jay Clayton left the post of SEC chairman. Under his leadership, the commission was not friendly to the cryptoindustry, refused to register new products, and pursued legal battles with companies.

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

Lena S.
Lena is an adventurous soul searching the world for truth and balance. She is a mother of 2 beautiful daughters and a full time writer for Financial News where she covers various topics from finance, government, politics, current events, crypto and technology.

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