Gary Gensler to be named new SEC chairman, Reuters reports
Crypto expert Gary Gensler is expected to be named the new chairman of the US Securities and Exchange Commission (SEC). According to a Reuters report, the new president will replace Elad Roisman in the coming days. Gensler was the former chairman of the Commodity Futures Trading Commission during the Obama era. He was appointed to join Joe Biden‘s transition team in November, shortly after the US presidential election. It is not yet clear how the new president will direct the affairs of the US regulator. So far, Gensler has not come out openly endorsing or criticizing cryptocurrencies. However, he has recognized blockchain technology as one that uncovers some of the underlying problems in the US payments industry.According to his portfolio, Gensler is a professor at MIT Sloan Business School. He was also the former CFO who spearheaded Hillary Clinton’s presidential campaign. If nominated and appointed, Gensler could introduce strict encryption policies that could stifle growth. Alternatively, the next president could play a key role in driving digital asset adoption. One main area of concern is the ETF. Gensler could eventually become the president who approves Bitcoin ETFs, given VanEck’s renewed efforts to launch one in the US Another area of concern is whether or not Gensler will comply with the lawsuit to the contrary.