The U.S. Securities and Exchange Commission (SEC) has added a number of advisers to Chairman Gary Gensler’s executive staff. Among them is Corey Frayer, who advises Gensler on “SEC policymaking and interagency work relating to the oversight of crypto assets.”
SEC has a new advisor for oversight of crypto assets
The U.S. Securities and Exchange Commission (SEC) announced Thursday the appointments of Corey Frayer, Phil Havenstein, Jennifer Songer, and Jorge Tenreiro to Chairman Gary Gensler’s executive staff. Here are the details of the announcement:
Corey Frayer is Chair Gensler’s advisor on SEC policymaking, interagency work and crypto asset oversight.
Frayer was a senior member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs. A decade later, he was a senior advisor to Rep. Maxine Wassers of the House Financial Services Committee as well as Rep. Brad Miller from North Carolina.
Gensler has Havenstein as his adviser in matters relating to management and agency operations. Songer advises Gensler on issues related to investment firms and investment advisors, while Tenreiro assists him with matters concerning the Division of Enforcement.
Gensler called in December for greater investor protection on crypto markets. “This asset class is rife with fraud, scams, and abuse in certain applications,” he said. “In many cases, investors aren’t able to get rigorous, balanced, and complete information on tokens or trading and lending platforms.”
Gensler has managed to get some ETFs approved by the SEC. The commission has yet to approve any spot bitcoin exchange-traded funds (ETFs). U.S. Reps. Tom Emmer, Darren Soto and a number of others wrote to Gensler in November asking the SEC for permission to trade spot bitcoin ETFs.
What do you think of the SEC adding a crypto adviser to Gensler’s executive staff? Comment below.
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