SEC Recruits Ancient Senate Aide as Crypto Consultant

SEC Recruits Ancient Senate Aide as Crypto Consultant

Ancient Senate aide Corey Frayer will wait on because the SEC’s most modern crypto consultant.

Key Takeaways

  • The SEC has hired worn Senate aide Corey Frayer to wait on as an consultant on issues related to cryptocurrency.
  • Frayer will join the SEC alongside three other modern staff members hired to wait on in roles unrelated to crypto.
  • The news comes alongside feedback from SEC Commissioner Hester Peirce criticizing unified crypto rules.

The U.S. Securities and Substitute Commission has hired a modern senior staff memberc to wait on as an consultant on cryptocurrency.

Ancient Senate Attend Frayer Hired by SEC

The SEC announced Thursday that worn Senate Aide Corey Frayer had been hired as a senior consultant on cryptocurrency. Frayer’s role would possibly be to deliver Gensler on SEC policymaking and to invent interagency work touching on crypto asset oversight.

Frayer has beforehand worked for the U.S. Senate Committee on Banking, Housing, and Metropolis Affairs. He also worked on numerous considerations as a Senior Consultant for the House Financial Services and products Committee below Procure. Maxine Waters.

Frayer will join the SEC alongside three other modern staff members: Philipp Havenstein as Operations Counsel, Jennifer Songer as Funding Administration Counsel, and Jorge G. Tenreiro as Enforcement Counsel. Those roles are no longer specifically related to cryptocurrency.

The recruits will wait on below SEC Chairman Gary Gensler, who took on that role in April 2021. Gensler mentioned that the four newly recruited folks obtain “obtain valuable trip” and that he has “already begun to depend on their precious counsel.”

Peirce Comments on Unified Guidelines

The news comes alongside statements from SEC Commissioner Hester Peirce criticizing requires a unified cryptocurrency regulator.

Peirce mentioned that whereas she understands “the impulse to name for one regulator,” this form of quiz can also honest in actuality cease in much less cohesion. “Assuredly in Washington, must you originate any other regulator, all you salvage is your total present regulators plus one,” Peirce mentioned.

Requires a unified crypto regulator obtain arrive from inside of the U.S. authorities and from crypto companies corresponding to Coinbase and FTX.

Peirce’s comment was once no longer related to the staff additions that the SEC has correct announced. On the other hand, the SEC’s resolution to nominate a modern crypto consultant means that it’s committed to overseeing crypto process itself in the absence of a regulatory body specifically devoted to that motive.

Disclosure: At the time of writing, the author of this fragment owned BTC, ETH, and other cryptocurrencies. 

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