The US Senate has approved Gary Gensler to chair the US Securities and Exchange Commission (SEC). It is worth noting that Gansler is known as a supporter of the Blockchain.
to the the report Senate members Crypto Briefing yesterday appointed Gensler as the new chairman of the US Securities and Exchange Commission with 53 votes in favor and 45 against.
Gansler is currently working as a professor of blockchain at Umayyad University. He previously chaired the US Commodity Futures Trading Commission and also worked for Goldman Sachs Bank.
Prior to Gencler, Jay Clayton chaired the US Stock Exchange Commission, which took a hard line on digital currencies. During Clayton’s presidency, the commission listed many new digital currency projects as securities and filed numerous complaints against initial coin offerings (ICOs).
Although the approach of the US Securities and Exchange Commission does not appear to be changing, some believe that, given Gansler’s knowledge of the Blockchain, it is likely that the commission will ease the shadow of its strictures in this area. Gensler announced last month that he was looking for “clearer” digital currency laws.
There is almost no doubt that digital currencies will remain under the auspices of the US Securities and Exchange Commission and Gansler, but a change in attitude towards the view that the change has taken place at the helm of the institution could lead to the approval of the first Bitcoin exchange traded fund. ETF) lead.
Coinciding with Gencler’s approval, Hester Peirce, a member of the US Securities and Exchange Commission, released an updated version of the Safe Haven plan. The plan aims to provide more flexibility for Blockchain projects. Pierce wrote on Tuesday:
A safe haven seeks to create a space for network developers to be given a three-year grace period. During this time, they can work on developing an application or decentralized network by using the exemption to register and follow federal securities laws.
Pierce first proposed the plan at the International Bloc Congress in February last year.
He noted in part that Gensler’s entry into the US Securities and Exchange Commission created an ideal time to review the institution’s rules and responsibilities regarding digital currencies and compliance with those currencies.