SEC Chairman Gary Gensler Adds Crypto Adviser to Executive Staff

The U.S. Securities and Exchange Commission (SEC) has added a number of advisers to Chairman Gary Gensler’s executive staff. Among them is Corey Frayer, who advises Gensler on “SEC policymaking and interagency work relating to the oversight of crypto assets.”

SEC Has New Adviser for the Oversight of Crypto Assets

The U.S. Securities and Exchange Commission (SEC) announced Thursday the appointments of Corey Frayer, Phil Havenstein, Jennifer Songer, and Jorge Tenreiro to Chairman Gary Gensler’s executive staff. The announcement details:

Corey Frayer advises Chair Gensler on SEC policymaking and interagency work relating to the oversight of crypto assets.

Before joining the SEC, Frayer served as senior professional staff on the U.S. Senate Committee on Banking, Housing, and Urban Affairs for Chairman Sherrod Brown. He also spent a decade as a senior adviser for Rep. Maxine Waters on the House Financial Services Committee and Rep. Brad Miller of North Carolina.

Havenstein serves as an adviser to Gensler on matters related to agency administration, operations, and management. Songer counsels him on matters related to investment companies and investment advisers while Tenreiro counsels him on matters involving the Division of Enforcement.

In December, Gensler called for more investor protection in crypto markets. “This asset class is rife with fraud, scams, and abuse in certain applications,” he said. “In many cases, investors aren’t able to get rigorous, balanced, and complete information on tokens or trading and lending platforms.”

The SEC, under Gensler, has approved some bitcoin futures exchange-traded funds (ETFs). However, the commission has not approved any spot bitcoin ETFs. In November, U.S. Reps. Tom Emmer and Darren Soto sent a letter to Gensler urging the SEC to permit the trading of spot bitcoin ETFs.

What do you think of the SEC adding a crypto adviser to Gensler’s executive staff? Let us know in the comments section below.

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