Gary Gensler is the SEC Chair.
Alex Wong is a photographer.
The Securities and Exchange Commission has hired a former Senate staffer to advise on cryptocurrencies.
Frayer worked on the US Senate Committee on Banking, Housing, and Urban Affairs before his appointment. He worked for a decade as a senior advisor to Rep. Maxine Waters, tackling various topics including emerging financial technology and investor and consumer protection.
Three new SEC hires were announced along with Frayer's appointment.
Gary Gensler said that "Corey, Phil, Jenny, andJorge have exceptional experience." I have begun to rely on their valuable counsel on policy, enforcement, and agency operations, and I look forward to our continued work together to execute the SEC's mission."
The SEC's announcement of a senior advisor for cryptocurrencies follows a blockbuster year of digital asset adoption. Mass awareness of assets like non-fungible token, and other cryptocurrencies catapulted them into mainstream finance in 2021.
In August of last year, Gensler said that the industry is rife with fraud, scam and abuse. He said there was a lot of hype and spin about how the asset works. In many cases, investors aren't able to get complete information. A lot of people will be hurt if we don't address these issues.
The US does not plan to ban these digital assets. Supporters say his request for more oversight of market participants will help the market flourish and protect investors.
Stakeholders of the digital currency's ecosystem have seen the willingness of the regulator to initiate a dialogue as a positive sign.
Metaverses are booming with investors and commerce. The 3 steps every investor and business owner should take to be early in the space are shared by an influencer.
Business Insider has an original article.
