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Gary Gensler has been sworn in as the new Chairman of the United States Securities and Exchange Commission (SEC), following his nomination by President Joe Biden and his subsequent confirmation by the Senate on April 14, 2021.
Gensler, a former Goldman Sachs executive has had a stint at the Federal Bank and his role as a blockchain and cryptocurrency lecturer at MIT has made many believe he will bring the long-sought reform not just to the broader market, but to the fast-growing cryptocurrency ecosystem.
Amongst the major challenges ahead of the 63-year old is the ongoing lawsuit with blockchain payments firm, Ripple Labs incorporated, as many anticipate a plausible scenario either where Ripple and the SEC reach a settlement or where the commission drops the case entirely