Gary Gensler ​will be sworn in as the 33rd Chairman of the Securities and Exchange Commission

The Senate has voted to approve Gary Gensler’s nomination, meaning that he will be sworn in as the 33rd Chairman of the Securities and Exchange Commission.

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Gary Gensler, an American academic and the former chairman of the Commodity Futures Trading Commission (CFTC)

The Senate voted to approve Gary Gensler’s nomination

Gary Gensler, an American scholar and former chairman of the Commodity Futures Trading Commission (CFTC), will now lead the regulator. He was confirmed by a vote of between 53 and 45.

Susan Collins, Chuck Grassley, and ardent Bitcoin proponent Cynthia Lummis are among the Republicans who voted to confirm Gensler. Senator Pat Toomey was very vocal about opposing Gensler’s nomination due to the SEC’s focus on environmental and social issues.

During a confirmation hearing on March 2, crypto-savvy Gensler promised to drive innovation while ensuring investor protection in the industry:

“Bitcoin and other cryptocurrencies have brought new thinking to payments and financial inclusion, but they’ve also raised new issues of investor protection that we still need to attend to. If confirmed at the SEC, I’d work with fellow commissioners to both promote the new innovation, but also at the core to ensure investor protection.”

Earlier this month, the XRP community filed a request for Gensler to cancel the Ripple lawsuit even though he claims that there is a strong case for the token classified as secure in 2018.

Gensler – who taught a course in blockchain and cryptocurrencies at MIT – was widely expected to eventually approve a Bitcoin exchange-traded fund after many applications were rejected under the leader of former SEC chairman Jay Clayton.

You can see the BTC price here.

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