US SEC agency added new executive to oversight the crypto activities
The United States Securities and Exchange Commission (SEC) agency added Corey Frayer as an advisor against the unfair crypto-related activities and policies actions.
The United States Securities and Exchange Commission is popularly known as a highly strict regulatory body in the United States. Right now Gary Gensler is Chairman at SEC agency, which is doing its best to restrict the illicit crypto activities in the industry by crypto businesses.
On 30 December the SEC agency announced that they hired Corey Frayer. Corey will play as an Advisor in the agency and he will serve his position as an Executive member.
In the Senate Banking Committee as well as a senior policy adviser for the House Financial Services Committee with Representatives Maxine Waters and Brad Miller, Corey worked as a professional staff member.
Alongside the joining of Corey, the agency added Philipp Havenstein, Jennifer Songer, and Jorge Tenreiro. These three people work at different position roles for instance Philipp will work in operations counsel, Songer in investment management counsel, and Jorge in enforcement counsel.
According to experts’ points of view, there are chances that SEC’s policies on the crypto services will get a better position & positive sides in the public opinion because Corey entered into the Agency.
At present, the SEC Agency is doing its best against all illicit crypto-associated operations by the companies in the crypto space. Last December, the SEC agency filed a lawsuit against Ripple company and the case is not over yet.
And this year, the SEC filed a case against Terra Labs to point out precisely whether Terra executives are selling unregistered securities or not.
Bitcoin or crypto-backed ETF products are also under the SEC agency power. In this year, the SEC agency approved Bitcoin ETFs products but rejected around three Bitcoin spot ETF applications in total.
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