Joe Biden nominates Gary Gensler to serve as SEC chairman

According to BlockBeats, on January 18, US President-elect Joe Biden officially nominated Gary Gensler as Chairman of the U.S. Securities and Exchange Commission (SEC), who will regulate banks, securities firms, listed companies and the cryptocurrency industry.

Gensler served as chairman of the U.S. Commodity Futures Trading Commission (CFTC) from 2009 to 2014 and has been in charge of Biden's financial industry regulatory transition plan since November 2020. He is also a professor at the MIT Sloan School of Management.

It is understood that due to the many efforts made to restart the Bitcoin Trading Fund in the United States and the great interest of investment institutions in such investment products, Gensler may play a key role in restarting the Bitcoin Trading Fund.

In this regard, The Block analyst Mike Orcutt said that Gensler is not a cryptocurrency enthusiast. But he is proficient in blockchain and has served as a senior advisor to the digital currency project at the MIT Media Lab. Gensler has also publicly commented on encryption projects, including Facebook-backed Libra (now called Diem).