Connect with us

Hi, what are you looking for?

TOP news

The SEC hires a senior advisor for cryptocurrency policy after a blockbuster year for digital assets

SEC Chair, Gary Gensler.

Alex Wong/Getty Images

  • The SEC has hired a senior advisor for work related to the oversight of cryptocurrencies.
  • Corey Frayer is a former Senate staffer with experience in investor and consumer protection.
  • His appointment could be welcomed by those looking for clarity around crypto assets in the US.
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

The Securities and Exchange Commission has hired former Senate staffer Corey Frayer to advise on matters relating to cryptocurrencies and digital assets.

Just before his appointment, Frayer worked on the US Senate Committee on Banking, Housing, and Urban Affairs. Prior to that, he worked as a senior advisor to Rep. Maxine Waters for a decade, tackling various topics including emerging financial technology, and investor and consumer protection.

Frayer’s appointment was announced alongside three new SEC hires to the executive staff: Phil Havenstein, Jennifer Songer, and Jorge Tenreiro.

“Corey, Phil, Jenny, and Jorge have exceptional experience,” Chairman Gary Gensler said in a statement. “I’ve already begun to rely on their valuable counsel on policy, enforcement, and agency operations, and I look forward to our continued work together to execute the SEC’s mission.”

The SEC’s announcement of a senior advisor for cryptocurrencies follows a blockbuster year of digital asset adoption. Rising mass awareness about assets like non-fungible tokens, bitcoin-linked exchange-traded funds, and other crypto investments catapulted them into mainstream finance in 2021.

In August last year, Gensler said the crypto industry is rife with fraud, scams, and abuse in some areas. “There’s a great deal of hype and spin about how crypto assets work,” he said. “In many cases, investors aren’t able to get rigorous, balanced, and complete information. If we don’t address these issues, I worry a lot of people will be hurt.”

But unlike China, the US has no plans to ban these popular digital assets. Gensler has called for crypto platforms to embrace regulation. His request for more oversight of market participants in the cryptocurrency and digital asset industry, supporters say, will help the market flourish and protect investors. 

The regulator’s willingness to initiate a dialogue about digital currencies has been seen as a positive and encouraging sign for stakeholders of the ecosystem. 

Read More: Metaverses are booming with commerce, investors, and creators. An influencer shares the 3 steps every investor and business owner should take to be early to the space.

You May Also Like

TOP news

Paul Sancya/AP On June 2, Delta will become the first US airline to pay its flight attendants for boarding time. Previously, flight attendants were...


The EU should play an active role in the upcoming U.S.-Russia talks over security concerns around Ukraine, the bloc’s top diplomat told German media...


Adeline van Houtte is the Economist Intelligence Unit’s lead analyst on Russia. It looks like Russia is at it again, after the unusual movement...

Health Care

Former President Donald Trump confirmed he had gotten a booster during a live show with Bill O’Reilly in Dallas on Sunday.

Сentral Tribune - Politic News