The Senate finally approved Gary Gensler as chairman of the Securities and Exchange Commission (SEC). YouTube reported on the 14th (local time).
Gary Gensler, an American scholar and former chairman of the Commodity Futures Trading Commission (CFTC), is now at the forefront of regulators. He was confirmed with a 53 to 45 vote.
Among the Republicans who voted to ratify Gensler included Susan Collins, Chuck Grazley, and avid Bitcoin advocate Cynthia Lumis.
Senator Pat Tumi was very vocal against Gensler’s nomination as the SEC focuses on environmental and social issues.
[Gensler’s Cryptocurrency Agenda]
At a personnel hearing held on March 2, Gensler, a cryptocurrency savvy, promised to promote innovation while ensuring investor protection within the industry.
“Bitcoin and other cryptocurrencies have brought new ideas about payment and embracing the financially underprivileged, but they have also raised a new issue of investor protection that we still need to pay attention to. If I work for the SEC, I will play a key role in investor protection with my fellow commissioners to drive new innovations.”
Many expect Gensler, who taught blockchain and cryptocurrency at MIT, to approve numerous ETF applications that were rejected at the time of former SEC chairman Jay Clayton.
(Gary Gensler, an American academic and the former chairman of the Commodity Futures Trading Commission (CFTC), will now spearhead the regulator.)
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Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.