US Securities and Exchange Commission (SEC) Chairman Gary Gensler has hired a senior advisor specializing in crypto for advice on crypto policies.
Corey Frayer, who will advise Gary Gensler, advised members of Congress for ten years before joining the Senate Banking Committee.
This move by Gensler indicates that the SEC’s efforts to regulate the industry could accelerate, along with a focus on establishing a regulatory framework for crypto next year.
According to a source close to the Senate Banking Committee, Frayer led the crypto policy of Senator Sherrod Brown, who has been outspoken about his concerns about the risks cryptocurrencies may pose to investors.
According to the SEC announcement, Frayer’s new role at the SEC will be “policy-making and interagency work on the oversight of crypto assets.”
Corey Frayer holds a degree in International Economics and Finance from the Catholic University of America.