According to Hester Peirce, Elad Roisman named SEC Acting President.
President-elect Joe Biden will possibly soon announce the permanent replacement of Clayton.
According to Commissioner Hester Peirce, Elad Roisman will automatically take over as President of the United States Securities and Exchange Commission.
On Twitter Thursday morning, Peirce broke the news and congratulated Roisman.
The leading contenders to take over from Jay Clayton were both Republican commissioners Peirce and Roisman.
In a statement posted on the SEC website, Clayton resigned from his position on Wednesday. Clayton had previously stated his willingness to leave the organization by the end of the year.
With regards to the possibility of a Bitcoin ETF that is not being established under the leadership of Clayton, CrossTower Co-founder and President Kristin Boggiano indicated that "As acting Interim President, Roisman will presumably serve until President-elect Joe Biden appoints its acting SEC President.
In 2018, Roisman was elected SEC Commissioner. He served as chief counsel to the United States until his nomination. Banking, Housing and Urban Affairs Senate Committee.
Bloomberg says that President-elect Joe Biden would pick an on-going Clayton successor that would temporarily allow Roisman's position.
Roisman, like Peirce, with its reasonably favorable approach to digital asset regulation is an ally of the cryptocurrency group. A member of the United States still. The Banking, Housing, and Urban Affairs Senate Committee in 2018 said: Roisman
The prospects of a Bitcoin (BTC) bond-traded fund were reportedly briefed shortly after Roisman entered the Security Regulator in 2018. Although Roisman did not take part in the decision to refuse the Bitcoin Trust from Winklevoss earlier that year—a decision strongly disputed by Peirce—Roisman heard several reasons for the acceptance of similar funds.
Roisman is not supposed to be a crypto community cheerleader, but his position at the SEC top could boost the regulatory transparency of the digital assets. That could pave the way for an ETF or a related product in the long term. In other words