To Bitcoin ETF or To Not Bitcoin ETF as Allison Herren Lee Becomes the Fifth SEC Commissioner
U.S. President Donald Trump has nominated Allison Herren Lee as the new Securities and Exchange Commission (SEC) commissioner. In this way, the SEC will have its fifth commissioner that will be working at the regulatory agency. The information was released by Reuters a few hours ago.
Trump Nominates New SEC Commissioner
Although she has not yet been confirmed, the approval of the Congress is expected. Lee will be filling the open democratic position that will play an important role in determining several issues. Lee has been working at the Colorado Supreme Court back in 1997. She later became a Senior Counsel in the Complex Financial Instruments Unit of the Enforcement Division of the SEC.
She worked for 13 years at the regulatory agency that she left in January 2018. During the last year, she worked as a Corporate Governance Consultant at Congress Park Consulting.
According to Trust Nodes, her choice to work at Congress Park Capital can also suggest that she does not like banks. If this is the case and she is in favour of virtual currencies, she could be a good friend with Hester Peirce, the so-called “crypto mom.” At the same time, she could also get on well with Elad Roisman. Nonetheless, these two commissioners belong to the Republican party.
There is no information about her regarding where she stands out in terms of economic issues. It is not clear whether she supports social liberalism or economic liberalism as well. Although we do not know this, she will play an important role, not only in the American economy but also in the global economy.
One of the main issues that the SEC needs to treat is related to the approval of a Bitcoin Exchange Traded Fund (ETF). Until now, the SEC has rejected several ETF proposals made by different participants in the market. Lee will have a decisive vote in issues related to the cryptocurrency market.
Roisman and Peirce are usually in favor of approving a Bitcoin ETF. Meanwhile, Jay Clayton and Robert Jackson are usually against the approval of this investment instrument. Lee will have to decide which side represents her ideas better.