President-elect Joe Biden named Gary Gensler as his pick for chairman of the U.S. Securities and Exchange Commission (SEC) on Monday.
- Gensler is the former chairman of the Commodity Futures Trading Commission (CFTC) and a Wall Street veteran who has closely studied the cryptocurrency field.
- Gensler has also been a part of Biden's transition team, overseeing financial policy work.
- Former SEC Chairman Jay Clayton left the role on Dec. 23. Elad Roisman was appointed acting SEC chairman by outgoing President Donald Trump for the remainder of his administration.
- Also on Monday, the Biden administration announced Rohit Chopra as the director of the Consumer Financial Protection Bureau. Chopra currently holds the commissioner position at the Federal Trade Commission.
- Chopra has publicly criticized libra, the Facebook-led cryptocurrency project that has since been renamed diem.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.