SEC Chair Gary Gensler Hires Senate Banking Aide to Advise on Crypto Policy

SEC Chair Gary Gensler Hires Senate Banking Aide to Advise on Crypto Policy

U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has hired a senior advisor specializing in cryptocurrency, according to a Thursday announcement.

Corey Frayer, who spent a decade working as a senior advisor to members of Congress before becoming a senior staffer on the U.S. Senate Committee on Banking, Housing and Urban Affairs under committee chairman Sen. Sherrod Brown (D-Ohio) – has been tapped for the role.

Gensler’s appointment of a crypto-focused senior advisor is in line with his stated focus on establishing a regulatory framework for crypto, as well as a signal that the SEC could step up its efforts to regulate the industry in 2022.

According to a source familiar with the Senate Banking Committee, Frayer spearheaded crypto policy for Sen. Brown – who has been outspoken about his concerns about the risks cryptocurrencies could pose to investors, calling blockchain a “shady diffuse network of online funny money” at a hearing in July – and other top-ranking Democrats.

According to the announcement, Frayer’s new role at the SEC will focus on “policymaking and interagency work relating to the oversight of crypto assets.”

Frayer has a degree in International Economics and Finance from the Catholic University of America.

Danny Nelson also contributed reporting to this story.

Source

Subscribe to get our top stories