Gary Gensler, Blockchain Professor at MIT, Eyed For SEC Chairman

January 15, 2021

As President-Elect Joe Biden prepares to take office next week, sources within his circle continue to reveal the names of potential cabinet nominees. The most recent development is that Gary Gensler may be selected as the new SEC chairman, replacing Elad Roisman.

Gensler is well known in academia as a professor at MIT’s Sloan School of Management, teaching courses on Blockchain and crypto assets. Prior to his academic career, Gensler work for Goldman Sachs as a banker, and also work under the Obama Administration as the leader of Commodity Futures Trading Commission (CFTC) from 2009 to 2014 In November of 2020, Biden selected Gensler to head his financial policy team, leading many to believe Gensler would be a front-runner for the SEC chair position.

Some experts speculate that Gensler could have a negative impact on the blockchain firm Ripple, which was recently sued for $1.3 billion dollars for selling unregistered securities. According to Reuters sources, Gensler may push for tougher regulations on cryptocurrency, which has raised concerns on Wall Street. Biden’s team seems to be aware that blockchain will be an important part of financial policy in the coming months. Janet Yellen, Biden’s nominee for Treasury Secretary, recently made comments on blockchain’s significance in business and finance.

It is still unclear as to how Gensler’s expertise on blockchain and crypto currencies will play in Biden’s administration, but it is clear that these emerging technologies will certainly be a key topic for Biden’s future policies.

Edited by Maurice Nagle



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