January 1, 2022

SEC Appoints Senior Crypto Advisor, Here's a Fact You Need to Know!

 U.S. Securities and Exchange Commission (SEC) chairman Gary Gensler has now added new members to its executive staff. A new addition known as Corey Frayer was appointed advisor on crypto-related matters and policy-making.

Corey Frayer’s appointment was announced by the SEC earlier today while stating that he will assume the position of senior advisor who will handle crypto-related matters.

The appointment for this position is nothing new for Frayer. He previously worked as a senior policy advisor with Reps Maxine Waters and Brad Miller for the House Financial Services Committee, he also previously served as a member of the Senate Banking Committee.

Meanwhile, Frayer isn’t the only new addition to Gensler’s executive staff. Jennifer Songer, Jorge Tenreiro and Philipp Havenstein will work together as investment management attorneys, enforcement attorneys and crypto -involved operations attorneys.

This appointment has raised questions among crypto market players about the tone or principles of the SEC on crypto after this. Previously, Gary Gensler repeatedly expressed concerns about ETF exchange -traded funds related to BTC crypto assets.

Since April’s ratification by the U.S. Senate, Gensler has urged all crypto projects to register with the SEC. Despite concerns raised about unclear rules, Gensler is likely to continue to serve as SEC chairman until 2026.

Yet in general, analysts are of the opinion that Frayer’s appointment will bring little hope especially regarding Bitcoin ETF trading.