Gary Gensler, who chaired the US Commodity Futures Trading Commission (CFTC) during Barack Obama’s presidency, will be named chairman of the Securities and Exchange Commission (SEC), Reuters reported, citing sources.
It is assumed that Gensler will receive an appointment in the administration of President Joe Biden in the coming days.
Gensler has previously demonstrated a deep understanding of issues related to cryptocurrencies and blockchain.
Gensler also conducted research at the Massachusetts Institute of Technology on the intersection of the fintech sphere and public policy, lectured on blockchain and digital currencies.
Gensler refused to agree that cryptocurrencies are a pyramid scheme, and claimed that Diem stablecoin, formerly Libra, is legally compliant with the characteristics of a security.
He made similar statements about XRP, the issuer of which Ripple was recently sued by the SEC for the sale of unregistered securities for $ 1.3 billion.
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