Reuters reported that Gary Gensler, who served as chairman of the Commodity Futures Contracts Commission (CFTC) during Obama’s tenure, will be appointed by the Biden administration as chairman of the Securities and Exchange Commission (SEC).

According to the news, which is based on sources knowledgeable about the process, this assignment will take place in the coming days. Gensler joined the transition team shortly after Benson won the presidential election.

Gensler is called “crypto money friendly”.

Gensler previously spoke before Congress on cryptocurrency and blockchain technology, and opposed the comparison of fraudulent organizations with these assets. The veteran economist also said that the Facebook digital currency Libra, which the US opposed and did not allow its establishment, also met the requirements of US law.

He said that XRP is a security

Gensler, who spoke periodically at MIT on Bitson and Bitcoin, also said that the famous startup Ripple’s money XRP is a security for him. The 63-year-old elderly also sees blockchain technology as a catalyst for change.

On the other hand, after Trump team member Jay Clayton, current SEC chief Allad Roisman was elected from among the current commissioners. When Biden took office, it was not known whether Roisman would continue on the seat, but it was unlikely that he would remain, as he belonged to the Republican wing.