What You Need to Know
- Gensler's nomination now moves to the full Senate.
- At his Senate Banking nomination hearing, Gensler addressed the GameStop trading frenzy, as well as his approach to regulating cryptocurrencies.
- Gensler is an expert in blockchain and digital assets.
The Senate Banking Committee approved by a 14-10 vote Wednesday the nomination of Gary Gensler to be chairman of the Securities and Exchange Commission.
Gensler’s nomination now moves to the full Senate.
During his nomination hearing on March 2 before the committee, Gensler laid out the steps he’d consider to address the recent market volatility related to the GameStop trading frenzy, as well as his approach to regulating cryptocurrencies.
The SEC’s Regulation Best Interest, however, was not discussed during the hearing.