March 28, 2024

The new head of the SEC is a supporter of cryptocurrencies

The new head of the SEC is a supporter of cryptocurrencies

Republican Elad Roisman was appointed acting chairman of the Securities Commissionand the US Exchanges (SEC) by President Donald Trump. This was announced by SEC Commissioner Hester Pierce, who congratulated Roisman on his new appointment.

The crypto community considers Roizman one of the mostcryptocurrency-friendly commissioners and hopes that Roizman will finally approve of the launch of a Bitcoin exchange-traded fund (ETF). In addition, the new chairman will have to deal with a lawsuit against Ripple.

Roisman has said in the past that the SEC needsadhere to a "fair and transparent approach" to the regulation of the cryptocurrency industry, as well as double-check their existing rules for their compliance with new economic realities.

“It is important that the SEC provides clarity andcertainty for markets and investors, and applied laws and regulatory requirements that would bring market participants to justice ”- he said shortly before joining the SEC.

Earlier it became known that the current chairmanHe submitted his resignation to the Commission. The document, dated December 23, was signed by Donald Trump, still the current President of the United States. The lawsuit against Ripple was his parting gift to the cryptocurrency market.

In his final statement, he expressed hopethat his successor will continue to fulfill the department’s mission: to protect investors, maintain order and efficient functioning of markets, and promote capital formation.

SEC man

Roizman is not a new person at the SEC.In September 2018, Trump nominated him and the Senate confirmed him to serve as a member of the Commission. The crypto community considers Roizman to be its supporter and one of the most favorable commissioners towards cryptocurrencies. He has previously said that the industry needs regulation. Now he will have to defend the SEC's position in the case against Ripple.

This appointment may be decisive forfintech startup from San Francisco. Let us remind you that the SEC filed a lawsuit against Ripple for the illegal sale of securities in the amount of $1.3 billion. By securities, the regulator means XRP tokens, which are traded on many cryptocurrency platforms and are popular in the community. Some trading platforms have already suspended trading or delisted XRP for fear of regulatory action.

Roizman's appointment inspired more than just Ripple fans. The community hopes that the new chairman will finally approve the launch of bitcoin exchange-traded funds (bitcoin ETFs).

The new head of the SEC is a supporter of cryptocurrencies

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