On January 18, the elected U.S. president Joe Biden nominated financier Gary Gensler to the chair of the Securities and Exchange Commission (SEC), The New York Times reported.
Update: On February 3 the Biden administration официально направила Gary Gensler’s nomination to the Senate. If approved, his tenure would run until June 5, 2026, unless he leaves the post earlier.
From 2009 to 2014, Gary Gensler held the post of chairman of the U.S. Commodity Futures Trading Commission (CFTC), after which he led the reform of benchmark interest rates undertaken by the Obama-Biden administration.
Before entering public service, Gensler worked in Goldman Sachs’ mergers and acquisitions department, overseeing the firm’s international operations.
Currently, Gensler is Professor of Practice in Global Economics and Management at the MIT Sloan School of Management, co-director of Fintech@CSAIL, and senior adviser at the MIT Digital Currency Initiative. His research covers artificial intelligence, blockchain technology and new financial technologies.
In the past he has spoken against equating cryptocurrencies with Ponzi schemes. In 2018, the financier stated that trading Ethereum and Ripple could violate U.S. law.
On December 23, 2020, Jay Clayton left the post of SEC chair. Under his leadership, the commission was not crypto-friendly, denying registrations for new products and pursuing lawsuits against companies.
Since December 25, Elad Roisman had been serving as acting chair of the SEC.
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