2021-1-14 22:12 |
Former Commodity Futures Trading Commission (CFTC) Chair Gary Gensler is expected to be named the Chairman of the US securities and exchange Commission by President-elect Joe Biden, reported Reuters.
Gensler has been leading Biden's transition planning for financial industry oversight since November.
This is good news for the crypto market as Gensler, who was a blockchain professor at MIT, has shared crypto-friendly views.
“Gary Gensler deeply understands crypto & has strongly supported bitcoin for years. His selection as SEC chair signals a policy shift in favor of a bitcoin ETF,” said Jake Chervinsky, General Counsel at Compound Finance.
While bullish for the Bitcoin
BTC 9.28%
Bitcoin / USD
BTCUSD
$ 38,262.09
$3,550.72
9.28%
Volume 65.1 b
Change $3,550.72
Open $38,262.09
Circulating 18.6 m
Market Cap 711.68 b
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Bitcoin Supporter Gary Gensler, Who Called XRP A 'Security' to Be Named SEC Chairman
and board cryptocurrency market, this might not be that good for XRP
XRP -0.93%
XRP / USD
XRPUSD
$ 0.30
$0.00
-0.93%
Volume 4.86 b
Change $0.00
Open $0.30
Circulating 45.4 b
Market Cap 13.41 b
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15 h
Bitcoin Supporter Gary Gensler, Who Called XRP A 'Security' to Be Named SEC Chairman
19 h
Acting SEC Enforcer Leading Ripple Lawsuit to Step Down; XRP Fights to Stay on Exchanges
1 d
Ripple Hires Former Amazon Executive As SVP Of Engineering to Strengthen Cross Border Payments
as he has publicly called it a security. Last month, the SEC sued Ripple and its two top executives for selling unregistered XRP security.
Gensler “went on record in 2018 saying there's “a strong case” that XRP is a security, signaling no shift on that issue,” noted Chervinsky.
Acting SEC Enforcer Leading Ripple Lawsuit to Step Down; XRP Fights to Stay on Exchanges Jimmy Aki January 13, 2021 SEC vs Ripple Pretrial Conference Set for Feb; Majority of Customers & XRP Volume Not in the US AnTy December 30, 2020 XRP Soars Over 50%; Despite Being Delisted From Exchanges With The SEC-Ripple Lawsuit Lujan Odera January 7, 2021 Ripple: Tetragon’s Lawsuit Has No Merit; Can Redeem Equity ‘If XRP Deemed a Security' AnTy January 6, 2021 Grayscale Officially Removes XRP from the Fund; Addresses with Large Amounts of XRP Drops Sharply AnTy January 5, 2021 SBI Holdings Says XRP Is Not ‘Security' in Japan; Will continue to Actively Support Ripple AnTy December 28, 2020 Ripple Partner MoneyGram Says it ‘Doesn’t Utilize ODL or RippleNet' for Which it was Paid Millions in XRP AnTy December 26, 2020 XRP Carnage Begins as the Delisting Commences AnTy December 24, 2020 Is The SEC Lawsuit a Blessing in Disguise for Ripple & XRP Investors? AnTy December 23, 2020Gensler is a former Goldman Sachs banker and is prompting concerns among Wall Street firms of tougher regulation. In contrast, Jay Clayton, who left his SEC Chairman post on Dec. 23rd, a former Wall Street lawyer, was criticized by Democrats for his ties to many companies he was overseeing.
While the crypto market is looking to win some, it may lose some as well as it is speculated that the Acting Comptroller Brian Brooks, the former general counsel at crypto exchange Coinbase, might leave the top US banking regulators office this week.
During Brook’s term, OCC took a crypto-friendly approach, with the most notable one being allowing crypto companies to secure national banking charters. This Tuesday, Brooks also wrote about regulators needing to get ready for self-driving banks, aka decentralized finance (DeFi).
The post Bitcoin Supporter Gary Gensler, Who Called XRP A ‘Security’ to Be Named SEC Chairman first appeared on BitcoinExchangeGuide.Similar to Notcoin - TapSwap on Solana Airdrops In 2024
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