The US Securities and Exchange Commission (SEC) announced the appointments of Corey Frayer, Phil Havenstein, Jennifer Songer, and Jorge Tenreiro to the executive staff of its Chairman, Gary Gensler today.
Corey Frayer has been appointed as a Senior Advisor to Gary Gensler. According to the details published by the Commission on 30 December, Frayer will provide guidance regarding SEC’s crypto policymaking. Moreover, the newly appointed advisor will facilitate the inter-agency operations related to digital assets.
The latest appointment from the SEC came nearly 4 months after Gensler criticized Bitcoin and other digital currencies. In an interview with CNBC, Gensler said that BTC and other cryptocurrencies are speculative assets.
Through the appointment of Frayer, SEC aims to develop an effective and clear regulatory framework for crypto assets. Frayer has extensive experience in financial policymaking.
“Corey Frayer advises Chair Gensler on SEC policymaking and interagency work relating to the oversight of crypto assets. Immediately before joining the SEC, he served as Senior Professional Staff on the U.S. Senate Committee on Banking, Housing, and Urban Affairs for Chairman Sherrod Brown. Prior to that, he spent a decade as a Senior Advisor working on issues ranging from consumer and investor protection to systemic risks and emerging financial technologies for U.S. Representative Maxine Waters on the House Financial Services Committee and for U.S. Representative Brad Miller of North Carolina,” the SEC noted.
Gensler on Cryptocurrencies
While Gensler’s stance on private cryptocurrencies has been tough, the crypto community is optimistic about a clear regulatory framework in the coming months. In a recent discussion, the SEC’s Chairman said that the US will not follow China’s lead in banning cryptocurrencies.
“We are really working with the authority they (Congress) have given us. I have said this before, I think many of these tokens do meet the test of being investment contracts or a note or some other form of security,” Gensler said.
