SEC Appoints New Senior Adviser On Crypto, Here’s How This Might Bring About Policy Changes
Chairman of the United States Securities and Exchange Commission (SEC), Gary Gensler has now added a new member to his executive staff. The new addition who is identified as Corey Frayer is appointed as an adviser on crypto-related matters, and policy making.
SEC Appoints Corey Frayer And Some Others
Corey Frayer’s appointment was announced by the SEC on Thursday with claims he’ll be assuming the position of a senior adviser on the agency’s crypto oversight. But Frayer is not exactly new to that kind of appointment. Having worked as a senior policy adviser alongside Reps Maxine Waters and Brad Miller for the House Financial Services Committee, he also served as a member of the Senate Banking Committee.
Meanwhile, Frayer was not the only new addition to Gensler’s executive staff. Jennifer Songer, Jorge Tenreiro, Philipp Havenstein all came alongside and will be working as investment management counsel, enforcement counsel, and operations counsel respectively.
And Gensler himself has since revealed his pleasure with the new appointees, saying that their addition will bring to the team;
“valuable counsel on policy, enforcement and agency operations”.
How The Appointment Could Change Gensler’s Stance On Crypto Policies
By appointing Frayer, Gensler’s longstanding public position on crypto policy could potentially change. Recall that the SEC chair has always expressed concerns about exchange-traded funds ETFs with exposure to cryptocurrencies like Bitcoin (BTC).
Since his April confirmation by the U.S. Senate, Gensler has been urging all crypto projects to register with the SEC. And while there have been concerns raised about regulations having no clarity, Gensler will likely continue to serve as chair of the SEC until 2026.
But with Frayer’s appointment, there may finally be some hope particularly regarding Bitcoin-traded ETFs that seems to have hit a wall for a long time now.Source