Gary Gensler to Lead Joe Biden’s Financial Transition Team
Crypto Guide
Live News

Keeping up with all the cryptocurrency news and updates is not an easy task, but we are up to the challenge! This way we can help our readers to keep track of changes in these fast growing currencies. Just like our site, is willing to face this challenge and on their site, they compile the features, key elements, and recent news involving bitcoin casino sites and which are the best to try!

Gary Gensler to Lead Joe Biden’s Financial Transition Team

November 11, 2020      Vandana Malik

The 2020 U.S. Presidential Election results came out a few days ago and it seems that the new U.S. President Joe Biden has already come into action. President Biden recently added Gary Gensler, former chairman of Commodity Futures Trading Commission (CFTC), to its financial policy transition team. He will be the one leading the whole team. 

This was revealed by the announcement on November 10, where Gensler himself volunteered for this position in the transition team. He will be responsible for the smooth transition along with the Federal Reserve and several regulators. 

Gary Gensler Also Known as Crypto-Savvy

Gensler has served as the chairman for CFTC under the tenure of former President Barack Obama. During his tenure, he is well-known as a strict regulator and was looking after the reforms to the $400 trillion derivatives market. He was also recently posted as a professor at MIT and there he became quite popular among the crypto community. He was also popularly known as a crypto-savvy person who is looking for better regulations for the crypto and blockchain market. 

Gensler believes that for Bitcoin to grow properly and further its adoption, there is a need to enhance the regulations. This will also help the investors to be protected from market manipulation that keeps coming up. 

Initial Coin Offerings Might be Considered Securities

Moreover, it is revealed that Gensler has also suggested considering Initial Coin Offerings (ICO) as securities. This will help them to come under the light of the U.S. Securities and Exchange Commission. Along with his post at MIT and recent addition to the transition team, he is also a senior advisor at the MIT Media Lab’s Digital Currency Initiative. Most of the crypto community is seeing this decision as a plus point for the crypto industry. They are hoping that within the tenure of President Biden, the crypto industry will flourish to its best.

READ  Former UAE Flight Attendant Faces Jail for $100K Loan Default
#Biden’s Financial Transition Team #Crypto-Savvy #Digital Currency Initiative #Former chairman #Gensler #MIT
Vandana Malik
Vandana Malik

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.