The US president-elect Joe Biden has appointed crypto-savvy Gary Gensler as the chairman of the presidential financial transition team. Gensler is also a former chairman of the Commodity Futures Trading Commission (CFTC).
The Biden campaign confirmed Gensler’s appointment on the 10th of November. On the day, the Biden-Harris team also announced other policy experts on the Biden review team for financial regulators.
According to a , these individuals are also conversant with cryptocurrencies, blockchains, and other related matters in the crypto market. They include economist and professor at MIT Simon Johnson, who has also co-authored a paper on blockchain technology. Also, Chris Brummer, who testified for Libra before the US congress, was included.
Also, the report included Mehrsa Baradaran and Lev Menand. Yahoo Finance revealed that Baradaran had authored papers on inequalities in banking, while Menand is one of the original creators of the digital dollar concept.
Gensler is a prominent figure in the cryptocurrency industry with several arguments on cryptos and blockchain before the US congress. In 2018, CryptoJournal that the newly appointed chairman of the presidential financial transition team argued that Ponzi schemes have no similarities with cryptocurrencies.
Also in 2019, Gensler that Facebook’s Libra qualifies to be a security under US law. Despite the ongoing tension between Ripple and the US, Gensler also believes Ripple’s XRP is a security.