Elad Roisman named acting chair of the SEC

Republican Elad Roisman has become Acting Chair of the U.S. Securities and Exchange Commission (SEC). Commissioner Hester Peirce congratulated him on the appointment.

Congratulations, Chairman Roisman! I look forward to your leadership of the SEC.

— Hester Peirce (@HesterPeirce) December 24, 2020

The final decision on the regulator’s leadership will be made by the elected U.S. president Joe Biden on January 20, 2021.

Roisman is known for his support of exchange-traded funds. After his appointment as an SEC commissioner in 2018, some analysts suggested that the odds of a Bitcoin ETF gaining approval had risen.

Roisman has also distinguished himself with a clear stance on regulating the cryptocurrency industry, which was welcomed by its representatives. In his view, the approach should be fair and transparent, and existing rules should be re-examined to align with new economic realities.

As a reminder, on December 23 the post of SEC chair left Jay Clayton. Under his leadership, the commission repeatedly rejected launches of Bitcoin ETFs, adopted an unfriendly stance toward crypto companies, and unleashed a ‘regulatory battle’ with Ripple.

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