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SEC chair has a new senior adviser for crypto


Gary Gensler, the chairman of the United States Securities and Exchange Commission (SEC), has hired a new staff member to advise him on crypto policy and interagency collaboration.

The Securities and Exchange Commission said on Thursday that Corey Frayer will join Gensler’s executive team. As a senior adviser on the agency’s cryptocurrency monitoring. Frayer has served as a senior policy adviser for the House Financial Services Committee alongside Representatives Maxine Waters and Brad Miller. As well as a professional staff member of the Senate Banking Committee.

Philipp Havenstein, Jennifer Songer, and Jorge Tenreiro, who will work as operations counsel, investment management counsel, and enforcement counsel, respectively, have also been appointed to the SEC chair’s executive team. In assigning the new employees to the team, Gensler emphasised their “vital advice on policy, enforcement, and agency operations”.

Gensler will most likely remain chair of the SEC until 2026

In the United States, the Securities and Exchange Commission, the Commodity Futures Trading Commission. As well as the Financial Crimes Enforcement Network are in charge of digital asset regulation. But each has its own jurisdictional claims, resulting in a patchwork approach that crypto firms must navigate to remain legal. Gensler will most likely remain chair of the SEC until 2026, after the United States Senate confirmed it in April.

Gensler’s public stance on crypto-related policy changes could be influenced by Frayer’s appointment to his team. The SEC head is likely one of the most knowledgeable persons on crypto and blockchain technology to ever hold the job. But he has raised reservations about exchange-traded funds that invest in cryptocurrencies such as Bitcoin (BTC). He has long urged cryptocurrency projects to register with the Securities and Exchange Commission. Urging them to “come in” and collaborate with regulators.

Following the resignation of Commissioner Elad Roisman in January. And the expiration of Commissioner Allison Lee’s term in June, the SEC’s leadership is likely to change in 2022. As a result, President Joe Biden will have the ability to appoint financial specialists. Who might have a substantial impact on crypto policy.

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