The United States Securities and Exchange Commission (SEC) has added a number of advisers to the executive staff of President Gary Gensler. Among them is Corey Frayer, who advises Gensler on “SEC policy-making and interagency work relating to the oversight of crypto assets.”
SEC Has New Advisor For Crypto Asset Supervision
The U.S. Securities and Exchange Commission (SEC) on Thursday announced the appointments of Corey Frayer, Phil Havenstein, Jennifer Songer and Jorge Tenreiro to President Gary Gensler’s leadership team. The announcement details:
Corey Frayer advises President Gensler on SEC policy making and interagency work related to the oversight of crypto assets.
Prior to joining the SEC, Frayer served as a senior executive on the US Senate Banking, Housing, and Urban Affairs Committee for President Sherrod Brown. He also spent a decade as senior advisor to Representative Maxine Waters on the House Financial Services Committee and Representative Brad Miller of North Carolina.
Havenstein serves as an adviser to Gensler on matters relating to the administration, operations and management of the agency. Songer advises him on matters relating to investment firms and investment advisers while Tenreiro advises him on matters involving the Execution Division.
In December, Gensler called for more investor protection in the crypto markets. “This asset class is rife with frauds, scams and abuse in some applications,” he said. “In many cases, investors are unable to obtain rigorous, balanced and complete information about tokens or trading and lending platforms.”
The SEC, under Gensler, has approved certain bitcoin futures exchange-traded funds (ETFs). However, the commission did not approve any Bitcoin cash ETFs. In November, U.S. Representatives Tom Emmer and Darren Soto sent a letter to Gensler urging the SEC to allow Bitcoin ETFs to be traded in cash.
What do you think of the SEC adding a crypto advisor to Gensler’s management staff? Let us know in the comments section below.
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