When he was chairman of the Commodities Futures Trading Commission (CFTC), Gary Gensler developed a reputation as a tough regulator. According to a Bloomberg profile, his name became an expletive to many on Wall Street – to the delight of Elizabeth Warren and her allies in the Obama administration. He faces a similar assignment when it comes to cryptocurrencies and blockchain as he enters the SEC chairman role.
Gensler’s CFTC experience should stand the 63-year-old, whose “downtime pleasure” is dancing, as he takes over the Securities and Exchange Commission (SEC) chief’s job under the incoming Biden administration. As CFTC chief, Gensler was largely credited with bringing order to a derivatives industry that had run amok and, according to many observers, caused the financial crisis of 2008.
- Former CFTC Gary Gensler is tipped to become the next SEC chief.
- He has extensive experience that spans Wall Street, government regulation, and a stint teaching about cryptocurrencies and blockchain at MIT.
- Gensler’s appointment is good news for those clamoring for regulatory guardrails for