The US Senate confirmed Gary Gensler as chairman of the Securities and Exchange Commission (SEC), The Wall Street Journal reported on Wednesday. Gensler, former chairman of the Commodity Futures Trading Commission (CFTC), was confirmed by a vote of 53 to 45. Gensler received support from only three Republicans, reflecting their apprehension towards an agenda that is expected to make disclosures from public companies stricter with regards to environmental impact, the report added. Bitcoin proponent Cynthia Lummis is one of the three Republicans who voted in favour. According to the report, Gensler is credited with improving the market's resilience with the set of rules he implemented when he led the CFTC. He is also known to be a hard-nosed negotiator who succeeded in overhauling the swaps market after the financial crisis. Progressives hope he follows a similar agenda and brings back some of the investor protections that were taken away under the Trump administration, the report added. Gensler assumes office at a time when his agency is dealing with a number of high-profile issues including the recent GameStop trading frenzy, a boom in special-purpose acquisition companies, and how to regulate cryptocurrencies. Bitcoin and other cryptocurrencies have brought new thinking to payments and financial inclusion: Gensler Gensler is a professor at MIT and researches and teaches on blockchain technology, digital currencies, and financial technology. As the new SEC chair, Gensler will play a key role in shaping regulations governing the cryptocurrency industry. During his confirmation hearing last month, Gensler said “Bitcoin and other cryptocurrencies have brought new thinking to payments…
