🚀 Chris Giancarlo Denies Interest In Replacing SEC Chair Gary Gensler
#ChrisGiancarlo #GaryGensler #SEC #CFTC #CryptoDad #cryptocurrency #Bitcoin #Ethereum #Ripple #HesterPeirce #CryptoMom #legalaction #BTC #ETH #XRP
According to U.Today, former CFTC Chair Chris Giancarlo, often referred to as "Crypto Dad" for his supportive stance on digital assets, has confirmed that he is not seeking to replace SEC Chair Gary Gensler. In a recent social media post, Giancarlo expressed his disinterest in addressing what he described as Gensler's "mess." Gensler, who previously led the CFTC from May 2009 to January 2014, has been known for his stringent approach towards cryptocurrencies since taking over the SEC. Giancarlo, who joined the CFTC as a commissioner in 2014 and led the agency from August 2017 to July 2019, has also dismissed rumors about taking a crypto-related position at the US Department of Treasury.
During his tenure at the CFTC, Giancarlo declared that Bitcoin and Ethereum, the two leading cryptocurrencies, were not securities. In June 2020, he also stated that the Ripple-affiliated cryptocurrency was not a security, although this claim was met with skepticism due to Ripple's involvement in the report he co-authored. This report was released shortly before former SEC Chair Jay Clayton initiated legal action against Ripple in December 2020. Gensler, upon assuming leadership of the SEC, adopted a more aggressive stance towards the crypto industry, initiating numerous legal actions against crypto companies. His agency recently decided to appeal a lawsuit in early October.
With Gensler anticipated to leave the SEC, there is speculation that the agency may drop all non-fraud-related crypto cases. Among the potential candidates to succeed Gensler are Dan Gallagher, Robinhood's chief legal officer, and former SEC Commissioner Paul Atkins. Meanwhile, SEC Commissioner Hester Peirce, known as "Crypto Mom," has reportedly shown no interest in the position.#ChrisGiancarlo #GaryGensler #SEC #CFTC #CryptoDad #cryptocurrency #Bitcoin #Ethereum #Ripple #HesterPeirce #CryptoMom #legalaction #BTC #ETH #XRP
🚀 SEC Appoints New Chief Counsel For Crypto Task Force
#SEC #CryptoTaskForce #MikeSelig #CryptoRegulation #CFTC #Innovation #NFTs #Metaverse #HesterPeirce #CryptoDad
According to CoinDesk, the U.S. Securities and Exchange Commission (SEC) has appointed Mike Selig as the chief counsel for its newly established Crypto Task Force. Selig, a seasoned crypto lawyer, previously served as a partner at the international law firm Willkie Farr & Gallagher, where he was part of the firm's crypto practice. His career also includes an internship with the Commodity Futures Trading Commission (CFTC).
Former CFTC Chairman Chris Giancarlo, known in the industry as "CryptoDad," expressed his congratulations to Selig via a social media post. Giancarlo, who is also a senior counsel at Willkie Farr, praised Selig's appointment, highlighting his past experience as a CFTC intern and partner at the firm. Giancarlo leads the Digital Works practice at Willkie Farr.
Selig has been vocal about his views on crypto regulation. In an op-ed for CoinDesk last October, he suggested that the SEC should move away from "regulation by enforcement," a strategy associated with former Chair Gary Gensler. Instead, Selig advocated for a regulatory framework that fosters innovation. Some of his recommendations, such as rescinding the Staff Accounting Bulletin 121 and withdrawing from certain lawsuits, have already been adopted by the new task force.
The announcement of Selig's appointment also included the naming of 13 other staff members to the task force. Among them are Landon Zinda, a former policy director at Coin Center, and Veronica Reynolds, a former attorney at Baker Hostetler LLP with expertise in NFTs and metaverse-related legal issues. Both Zinda and Reynolds will serve as senior advisors. Zinda's role was initially announced in February.
Commissioner Hester Peirce, who leads the Crypto Task Force, emphasized the team's dedication to addressing complex regulatory challenges in the crypto space. She noted the task force's commitment to collaborating with other SEC staff and engaging with the public to develop practical solutions for the evolving crypto industry.#SEC #CryptoTaskForce #MikeSelig #CryptoRegulation #CFTC #Innovation #NFTs #Metaverse #HesterPeirce #CryptoDad