The Obama-era administrator is a Democratic favorite and already leading Biden s transition efforts.
Gary Gensler is expected to be named chair of the U.S. Securities and Exchange Commission, according to a report by Reuters, citing two unnamed sources familiar with the matter. If appointed, the Obama-era administrator would bring experience in blockchain technology, digital currencies and fintech to the role.
Gensler was chair of the Commodity Futures Trading Commission from 2009 to 2014 and has already been working on President-elect Joe Biden’s transition team. He is a fiduciary advocate, having led the Maryland Financial Consumer Protection Commission from 2017 to 2019. In that role, Gensler oversaw efforts to regulate cryptocurrencies, initial coin offerings, cryptocurrency exchanges, blockchain technology and data breaches, as well as address fiduciary duty standards of care, according to Maryland state archives.