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According to Reuters, Gary Gensler may be appointed chairman of the US Securities and Exchange Commission in the next few days.
Gary Gensler is the former chairman of the Commodity Futures Trading Commission and played an important role in financial institutions during the time of former US President Obama. After the 2008 economic crisis, he took the lead in formulating regulations for new derivatives. He also served in the Treasury Department under Clinton.
Recently, he has repeatedly testified on cryptocurrency and blockchain in Congress, overturning the comparison between cryptocurrency and Ponzi scheme, and announced that Libra, which has not yet been launched, meets the securities requirements under US law.
At MIT’s Sloan School, Gensler taught a course on cryptocurrency and blockchain, calling the technology (blockchain) a “catalyst for changes in the financial world and the entire economic field”.
In the next 10 years and 20 years, the application scenarios of blockchain hope to be more. Currently, it is mainly in the financial sector.