Gary Gensler, the new chairman of the Securities and Exchange Commission (SEC), is scheduled to vote in the Senate on April 12th. Coinpost reported this on the 27th.
On March 11, it was approved by the Senate Banking Committee, but the chairman’s vote was not scheduled until this announcement. For that reason, after former chairman Jay Clayton resigned in December of last year, the role of SEC’s interim chairman, Allison Herren Lee, has taken over.
As Gensler is a stakeholder of cryptocurrency and blockchain, the prospect of becoming a new chairperson is attracting attention from investors. At the last Senate hearing, while evaluating Bitcoin (BTC) and other cryptocurrencies as bringing new ideas to payments and embracing the financially underprivileged, they expressed the view that they are also facing challenges that have never been seen in terms of investor protection.
If the Gensler nominee is approved, his term as new chairperson will expire on June 5 of this year. June 5 corresponds to the original term of office for former Chairman Clayton. On the other hand, according to the SEC’s rule, if there is no personnel transfer during the term of office, the position of chairperson can be continued for about 18 months after the term expires.
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