New SEC Commissioner Approves Of Crypto

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New SEC Commissioner Approves Of Crypto

By Tom Whitbread
September 7th, 2018

The new SEC commissioner was confirmed by the US senate today, Mr Elad Roisman is pro-crypto.

After serving the U.S Senate Committee for several years as chief counsel on Banking, Housing, and Urban Affairs, Mr Roisman, 37 years old, was confirmed as commissioner on September 5th 2018. 

As a republican candidate, Mr Roisman was nominated to the senate back in June of this year, in August he was approved for nomination by the Senate’s Banking Committee, and yesterday was confirmed to have effectively taken the position.

Previously Roisman has been associated with being in favour of cryptocurrencies and blockchain based technologies, his role within the SEC is expected to continue progressing his predecessor Comm Hester Peirce’s prior decision to open financial markets to the world of cryptocurrencies.

Roisman spoke regarding ICOs and shared his views on blockchain back in July of this year, at a Senate Banking Committee hearing.

Speaking for the financial expert, Roisman said in order for SEC to adapt to new evolutions in the market and should “approach these new challenges in a fair and transparent manner,” emphasising a clear need to “examine and re-examine its rules, regulations, and guidelines”

“The U.S. capital markets are the envy of the world, and the importance of the SEC’s role in this cannot be overstated. Throughout its history, the dedicated commissioners and staff of the SEC have worked to preserve confidence as our markets grew and evolved.

To continue this, the SEC must examine and re-examine its rules, regulations, and guidelines to ensure that they are still working as intended to accomplish the SEC’s mission.

This is most recently manifested in areas such as data protection and cybersecurity, as well as the emergence of new investments and technologies such as initial coin offerings and blockchain.

It is essential that the SEC approach these new challenges in a fair and transparent manner, provide clarity and certainty to the markets and investors, and enforce the laws and regulations that hold market participants accountable.”

With his sentiments towards embracing new technology and overcoming the complications presented could Roisman help herald in a new era for finance, making a Bitcoin ETF possible and further promoting ICOs? Only time will tell. So far markets have not reacted yet to the news.