US Senators Push SEC to Pause Approval of Bitcoin ETFs, Citing Investor Safety Concerns
Senators urged the commission to reassess the approval of additional cryptocurrency ETFs, citing potential risks for retail investors.
Chairman at US SEC.
Gary Gensler is an American government official and former Goldman Sachs investment banker serving as the chair of the US Securities and Exchange Commission (SEC). Gensler previously led the Biden-Harris transition’s Federal Reserve, Banking, and Securities Regulators agency review team. Prior to his appointment, he was professor of Practice of Global Economics and Management at the MIT Sloan School of Management.
Gensler served as the 11th chairman of the Commodity Futures Trading Commission (CFTC), under President Barack Obama, from May 26, 2009, to January 3, 2014. He was the Under Secretary of the Treasury for Domestic Finance (1999–2001), and the Assistant Secretary of the Treasury for Financial Markets (1997–1999). Prior to his career in the federal government, Gensler worked at Goldman Sachs, where he was a partner and co-head of finance. Gensler also served as the CFO for the Hillary Clinton 2016 presidential campaign. President Joe Biden nominated Gensler to serve as 33rd chair of the US Securities and Exchange Commission. He succeeded SEC Acting Chair Allison Lee.
US SEC
Oct 18th, 1957
American
The Wharton School, University of Pennsylvania, MBA, 1979
The Wharton School, University of Pennsylvania, Undergraduate Degree in Economics, 1978
Maryland Financial Consumer Protection Commission, Chair, 2017-2019
MIT Sloan School of Management, Professor of the Practice of Global Economics and Management
MIT’s Fintech@CSAIL, Co-Director
MIT Media Lab Digital Currency Initiative, Senior Advisor
Commodity Futures Trading Commission, 11th Chairman, 2009-2014
Treasury for Domestic Finance, Under Secretary, 1999-2001
Treasury for Financial Markets, Assistant Secretary, 1997-1999
Senators urged the commission to reassess the approval of additional cryptocurrency ETFs, citing potential risks for retail investors.
The SEC stated that CryptoFX had several employees who managed to convince and defraud investors from 10 different states including two foreign countries.
The SEC’s decision to seek public comment on the proposed ETFs is a strategic move, as it allows the regulatory body to gather insights and address potential concerns regarding fraud, manipulation, and the intricacies of Ethereum’s transaction validation process
Warren’s recognition marks a shift in her stance on crypto, following legislative actions targeting illicit use. Now she addresses ongoing digital currency challenges.
Six Republican senators express “great concern” to SEC Chair Gary Gensler about the regulator’s conduct in the Debt Box case, alleging unethical behavior.