Gensler seeks to establish regulations for crypto assets, which indicates that the SEC wants to control the industry in 2022. Frayer will focus on cryptocurrency policy but could contribute to the approval of Bitcoin exchange-traded funds (ETFs).
Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), recently appointed Corey Frayer as his new Senior Cryptocurrency Advisor. The former aide to the Senate will be responsible for making policies and coordinating inter-agency work related to the oversight of crypto assets.
A cryptocurrency-focused Senior Advisor will help Gensler establish a regulatory framework for those assets. Besides, that is a sign that the SEC could increase its efforts to control the industry in 2022.
Since the US Senate confirmed him in his role, Gensler has urged projects involving cryptocurrencies to register with the SEC. He promised that he would continue as chairman of the SEC as long as regulations are still unclear.
The SEC Appoints Corey Frayer and Three Other Staff Members
The Chairman of the SEC, Gary Gensler, has ensured that a prominent Senate staff member focuses on cryptocurrency policy. Twitter user WallStreetPro recently said that people would remember that expert, as he could help with the approval of Bitcoin exchange-traded funds (ETFs).
The SEC announced that Phil Havenstein, Jennifer Songer, and Jorge Tenreiro would join Frayer. Havenstein advises Gensler about agency administration, operations, and management. Songer counsels him on investment companies and investment advisors, while Tenreiro deals with the Division of Enforcement.
Gensler, who assumed that role in April 2021, will direct the functions of the four new staff members. He said he already relied on their invaluable advice about policies, compliance, and operations.
He added that he is looking forward to their continued joint work to execute the mission of the SEC. Of course, the regulation of cryptocurrencies is one of the primary purposes of that government agency.
Economist Corey Frayer Is the New Senior Cryptocurrency Advisor
Corey Frayer graduated with a degree in International Economics and Finance from the Catholic University of America. He will advise the chairman of the SEC, Gray Gensler, on aspects related to the control of crypto assets.
Besides the above, he was a senior professional on the US Senate Committee on Banking, Housing, and Urban Affairs for Chairman Sherrod Brown. Frayer led cryptocurrency strategy for him, who has been vocal regarding his interests in the alleged risks of crypto assets.
He was also a Senior Advisor on consumer and investor protection to systemic risks and emerging financial technologies. He worked for US Representatives Maxine Waters on the House Financial Services Committee and Brad Miller of North Carolina.
The interest from people in Bitcoin and other cryptocurrencies has grown significantly, which regulators do not overlook. Many of them look for ways to regulate them and even ban them, as they link those assets will illicit activities. That leads them to hire specialists to help them make policies to control all the projects related to digital currencies.
By Alexander Salazar
