US President-elect Joe Biden has finally decided to select his candidate for the presidency of the Securities and Exchange Commission.
at least according to anonymous sources to Reuters in Tuesday's report, Gary Gensler will be Biden's candidate for the presidency of the Securities and Exchange Commission.
During the Obama administration, Gensler was chair of the CFTC, where he was responsible for implementing many of the new provisions of the Dodd-Frank Act that followed the 2008 financial crisis.
Gensler spent most of Trump's years at MIT, teaching courses on digital assets and blockchain.
and if he is nominated, there is no doubt that the Senate, now controlled by the Democrats, would be willing to confirm his appointment.
and it is likely that Gensler is the person most familiar with cryptocurrencies for the SEC leadership.
former SEC Chairman Jay Clayton, who resigned last December, has been known to follow ICOs throughout his tenure.
early in his term, the committee released its DAO report, its first announcement that digital assets could be securities and would therefore fall under the jurisdiction of the Securities Commission Finance and Stock Exchanges.
Gensler was a pioneer in fiscal policy on Biden's transition team shortly after Biden's election victory in early November.
and there was a great deal of speculation at the time about Gensler's potential role in the upcoming administration, with many anticipating his choice of the SEC.
