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Ripple eyes Gary Gensler’s confirmation as new SEC Chair – FinanceFeeds

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The new SEC Chair was once the 11th chairman of the CFTC, having been nominated by Barack Obama and confirmed by the Senate in 2009. Then, he pledged to work to “urgently close the gaps in our laws to bring much-needed transparency and regulation to the over-the-counter derivatives market to lower risks, strengthen market integrity and protect investors.”

Described as “one of the leading reformers after the financial crisis”, Gary Gensler will now lead the SEC in a time of crisis. The financial watchdog has been under fire for not providing clarity regarding its authority over the cryptocurrency ecosystem, with the most recent scandal being the SEC v Ripple lawsuit.Gary Gensler, a former investment banker who leads the Biden–Harris transition’s Federal Reserve, Banking and Securities Regulators agency review team, has been confirmed by the U.S. Senate as the new Chairman of the Securities and Exchange Commission.

Described as “one of the leading reformers after the financial crisis”, Gary Gensler will now lead the SEC in a time of crisis. The financial watchdog has been under fire for not providing clarity regarding its authority over the cryptocurrency ecosystem, with the most recent
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