Apr 14, 2021 - Politics & Policy

Senate confirms former top Wall Street regulator Gary Gensler as SEC chair

Gary Gensler

Gary Gensler at a 2013 Senate Banking Committee hearing. Photo: Andrew Harrer/Bloomberg via Getty Images

The Senate voted 53-45 on Wednesday to confirm Gary Gensler as chairman of the Securities and Exchange Commission.

Why it matters: Gensler, who chaired the Commodity Futures Trading Commission (CFTC) under President Obama, is seen as likely to take aggressive steps to regulate financial giants.

Flashback: Gensler worked as a partner at Goldman Sachs for 18 years before joining the Treasury Department in 1997.

  • A progressive ally to Sen. Elizabeth Warren (D-Mass.), Gensler earned a reputation as an aggressive regulator and Wall Street foe while chairman of the CFTC.
  • Gensler may also be in a good position to further bridge the gap between the crypto industry and securities laws, given his ongoing and deep interest in cryptocurrency technology, Axios' Kia Kokalitcheva reports.

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