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Biden makes it official: MIT Blockchain professor Gary Gensler will run SEC

After a week of reports, President-elect Joe Biden officially announced that MIT electronic money and also blockchain professor Gary Gensler will be appointed chairman of the U.S. Securities and Exchange Commission. In a Jan. 18 news, the Biden Transition Team highlighted Gensler’s history of leading economic markets reform returning greater than 20 years. And also as chairman of the U.S. Commodity Futures Trading Commission from 2009 to 2014, the announcement kept in mind that Gensler led « the Obama-Biden Administration’s reform of the $400 trillion swaps market. » Gensler also served as aide secretary of the treasury for economic markets from 1997 to 1999 and under secretary of the treasury for residential financing from 1999 to 2001, an economic advisor to the 2008 Obama project, and as CFO of the 2016 governmental campaign for Sen. Hillary Clinton (D-NY). Currently, as a teacher at the MIT Sloan School of Management, Gensler is co-director of the [email protected], a program that brings with each other mainstream economic firms consisting of Citi, State Street, and also Fidelity with cryptocurrency as well as blockchain firms ConsenSys as well as Ripple, along with the Bank for International Settlement and Nasdaq. In action to the Biden team’s news, blockchain intelligence company CipherTrace tweeted that it expects to « see much better clearness on market framework and also infrastructure for crypto assets » from Gensler. […]