Biden officially names Gary Gensler for SEC chairman post
January 19, 2021, 5:00AM EST
1 min read
President-elect Joe Biden has officially named Gary Gensler as his pick for chairman of the U.S. Securities and Exchange Commission (SEC), confirming previous media reports.
Gensler was chairman of the U.S. Commodity Futures Trading Commission (CFTC) from 2009 to 2014, and since November, he has led Biden's transition planning for financial industry oversight.
As the country's top securities regulator, Gensler, a professor at the MIT Sloan School of Management, will oversee banks, brokers, public companies, as well as the crypto sector. Gensler would likely play a key role in considering a bitcoin exchange-traded fund, given revived efforts to launch one in the U.S. and institutional interest in such investment products.
Gensler, however, is no crypto enthusiast, as The Block's Mike Orcutt wrote in November. But he is blockchain savvy, having served as a senior advisor at the MIT Media Lab's Digital Currency Initiative. Gensler has also publicly commented on crypto projects, including the Facebook-backed Libra, now known as Diem.
Biden's other pick, Rohit Chopra, for director of the Consumer Financial Protection Bureau, has also publicly commented on Libra in the past. Chopra currently serves as a commissioner of the Federal Trade Commission.
Delivering on a vision for an interoperable global standard for dollar digital currency, Circle and TRON have partnered to make USD Coin (USDC) available on the TRON blockchain, which has grown to more than 56 million accounts and nearly 2.5 billion transactions since its founding just four years ago. TRON is home to a broad ecosystem for digital assets in Asia and around the world, and the TRON community can now benefit from easy access to the world's fastest-growing, regulated dollar digital currency.
The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana.
We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come.
Bloomberg reported Friday that a broad U.S. government investigation into the operator of crypto exchange Binance has widened to include "whether Binance or its staff profited by taking advantage of its customers."
The securities regulator for Alabama issued a show-cause order on Thursday to crypto lender Celsius, seeking an explanation for why its offerings don't constitute the sale of securities under state law.
LMAX Group robust technology and familiar institutional grade trading infrastructure (currently processing over 2 billion orders per day in the global FX market) is the solid backbone of LMAX Digital, delivering access to deep institutional liquidity, transparent price discovery, a regulated trading environment and a full custodian trading solution.