Winds of change? The US Securities and Exchange Commission now has a new chairman in Gary Gensler. President Joe Biden picked the MIT professor who has made a name for himself in the crypto space.
A professor at the MIT Sloan School of Management, he also serves as a codirector of Fintech@CSAIL and a senior advisor to the MIT Media Lab Digital Currency Initiative. His classes have included everything from blockchain technology to digital currencies, and financial technologies.
He has also taught on public policy.
Gensler has been confirmed by the senate as the new chairman of the top financial regulator in the United States. A 53-45 vote in his favor on Wednesday confirmed his nomination.
In a statement, the four commissioners at the SEC welcomed the new chairman of the agency:
“A warm congratulations to Gary Gensler on his Senate confirmation to become Chair of the SEC … We welcome him back to public service and look forward to working together to execute our vital mission.”
Gensler is a former Goldman Sachs executive, and also served as the chairman of the Commodity Futures Trading Commission (CFTC) from May 2009 to January 2014.
There are people who believe that with his deep knowledge of cryptocurrency, the commission will, under his leadership, finally approve a Bitcoin exchange traded fund this year.
As for his policies on Bitcoin and other cryptocurrencies, he made his stance clear during his confirmation hearing before the senate banking committee, saying that these innovations have been a catalyst for change.
He further noted that if confirmed at the SEC, he would work with fellow commissioners to promote new innovation, but also, at the core, ensure investor protection.
Time to put words into action, then!
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