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Joe Biden nominates Gary Gensler for SEC chair

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It is understood that Gensler may play a key role in restarting the bitcoin trading fund.

Rhythm BlockBeats news, on January 18, US President-elect Joe Biden (Joe Biden) formally nominated Gary Gensler (Gary Gensler) as the chairman of the US Securities and Exchange Commission (SEC). Regulate banks, securities firms, listed companies and the cryptocurrency industry.

Gensler served as Chairman of the Commodity Futures Trading Commission (CFTC) from 2009 to 2014 and since 2020 Has been in charge of Biden's financial industry regulatory transition plan since November. He is also a professor at the MIT Sloan School of Management.

It is understood that due to the efforts to restart Bitcoin trading funds in the United States, and investment institutions’ interest in this type of investment products With great interest, Gensler may play a key role in restarting the bitcoin trading fund.

In this regard, The Block analyst Mike Orcutt (Mike Orcutt) said that Gensler is not encrypted Currency lover. But he is well versed in blockchain, having served as a senior advisor to the MIT Media Lab's digital currency project. Gensler has also publicly commented on crypto projects, including the Facebook-backed Libra (now known as Diem).