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BREAKING: Crypto-Savvy Gary Gensler to Be Named as New SEC Chair

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Tue, 01/12/2021 - 20:07
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Alex Dovbnya
Former CFTC chair Gary Gensler is expected to lead the U.S. SEC
BREAKING: Crypto-Savvy Gary Gensler to Be Named as New SEC Chair
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President-elect Joe Biden is expected to name cryptocurrency-savvy Wall Street vet Gary Gensler as the new chairman of the U.S. Securities and Exchange Commission (SEC), according to a Reuters report. He will replace acting SEC Chairman Elad Roisman.  

Prior to that, Gensler, a former CFTC chair, was appointed to spearhead Biden's financial policy transition team back in November.  

Related
Ripple CEO Breaks Silence, Addressing Key SEC Accusations

He will preside over the SEC's fight against blockchain company Ripple. The bad news for the San Francisco-based decacorn is that Gensler believes that there is a "strong case" for XRP being classified as a security, according to his 2018 speech at an MIT conference:    

"Ripple is doing a lot to advance the value of XRP." 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.