September 30, 2022

SEC Appoints New Senior Adviser On Crypto, Here’s How This Might Bring About Policy Changes

2 min read

SEC appoints new crypto adviser

Chairman of the United States Securities and Exchange Commission (SEC), Gary Gensler has now added a new member to his executive personnel. The brand-new addition who is determined as Corey Frayer is designated as an adviser on crypto-related matters, and policy making.

SEC Appoints Corey Frayer And Some Others

Corey Frayer’s visit was announced by the SEC on Thursday with claims he’ll be assuming the position of a senior advisor on the company’s crypto oversight. However Frayer is not precisely new to that sort of appointment. Having worked as a senior policy advisor together with Reps Maxine Waters and Brad Miller for your house Financial Services Committee, he likewise acted as a member of the Senate Banking Committee.

Meanwhile, Frayer was not the only brand-new addition to Gensler’s executive personnel. Jennifer Songer, Jorge Tenreiro, Philipp Havenstein all came together with and will be working as investment management counsel, enforcement counsel, and operations counsel respectively.

And Gensler himself has actually since revealed his enjoyment with the brand-new appointees, saying that their addition will give the team;

“valuable counsel on policy, enforcement and company operations”.

How The Appointment Could Change Gensler’s Stance On Crypto Policies

By appointing Frayer, Gensler’s longstanding public position on crypto policy might potentially alter. Remember that the SEC chair has actually constantly revealed concerns about exchange-traded funds ETFs with exposure to cryptocurrencies like Bitcoin (BTC).

Because his April confirmation by the U.S. Senate, Gensler has been prompting all crypto tasks to register with the SEC. And while there have actually been concerns raised about guidelines having no clarity, Gensler will likely continue to act as chair of the SEC till 2026.

But with Frayer’s consultation, there may finally be some hope especially regarding Bitcoin-traded ETFs that seems to have actually struck a wall for a long period of time now.

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