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