What You Need to Know
- Gensler was sworn in Saturday by Sen. Ben Cardin, D-Md.
- SEC Commissioner Hester Peirce hopes to work with Gensler on building a regulatory framework for cryptocurrency.
- Gensler also thanked Acting Chair Allison Herren Lee “for her leadership the last few months.”
Gary Gensler was sworn in Saturday as chairman of the Securities and Exchange Commission.
During his swearing in by Sen. Ben Cardin, D-Md., in Baltimore, Gensler said: “I feel incredibly privileged to join the SEC’s team of remarkable public servants. As Chair, every day I will be animated by our mission: protecting investors, facilitating capital formation, and promoting fair, orderly, and efficient markets. It is that mission that has helped make American capital markets the most robust in the world.”
Gensler was nominated to head the SEC by President Joe Biden on Feb. 3 and confirmed by the Senate Wednesday.
In a statement, Gensler also thanked Acting Chair Allison Herren Lee “for her leadership the last few months and all of my fellow Commissioners for being so generous with their time and advice.”
SEC Commissioner Hester Peirce, a Republican, said in video tweet Friday that she hopes to work with Gensler on building a regulatory framework for cryptocurrency. “That’s something that Gary comes to the SEC with a lot of experience in,” Peirce said, noting his teaching of blockchain and finance at MIT.
Gensler, Peirce continued, “also has a lot of experience in regulation.”