Trump's Two New SEC Commissioner Nominees: Pro Cryptocurrency Support?

There are five SEC commissioner seats and one of them has been vacant for some time. President Donald Trump has nominated one individual, Elad Roisman, who is the current chief counsel for the Senate Banking Committee, and is considering another, Allison Lee, a former enforcement attorney at the SEC.

There is not much known about their policies. At this point, Roisman appeared before the Senate Banking Committee for a confirmation hearing, At the hearing Roisman explained that he intends to keep an open mind about advice proposal and that it is important to consider the effect of a new proposal standard would preserve investor access to advice.

As he stated, “It’s important for [investors] to have adequate disclosures and understand the nature of their relationship, including how conflicts of interest exist and how they can be addressed.”

Currently, there is not much information about Lee and her position matters, and whether the nomination is going forward.

Why does this matter in the land of bitcoin and blockchain? Because cryptocurrency regulations are at the forefront of one of the pivotal roadblocks and barriers the growing industry must adapt, adjust and evolve with. We have saw much of the back and forth banter with the SEC and the Bitcoin ETF approval as they are clearing the kingpin of governing bodies that will ultimately determine the fate of when we see the first legally approved and regulated bitcoin exchange-traded fund.

Current SEC Chairman Jay Clayton has also had his fair share of run-ins with the cryptocurrency sector, helping dish out the “Bitcoin is not a security” as well as “Ethereum is not a security” ruling earlier this year so any new nominees of POTUS Trump could be a close running partner in the decision making process with Mr. Clayton. The SEC will also play a key role in the fate of Initial Coin Offerings, determining the entire ecosystem's future sooner than later. They also will have to battle out the security token offerings as that is a budding new happenstance within the industry as well.

What do you guys think? Will Trump's nominees that are selected be pro-cryptocurrency or will they resist change and put up as many roadblocks and speed bumps as possible? Recently we had report about committing resources to blockchain technology but nothing is a given with Trump and his actions. One thing is for sure, Trump would love to take credit for opening up the flood gates to new cryptocurrency regulatory frameworks, especially amidst all of the looming trade war talks and potential US debt collapse that could happen in the coming years.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Alibaba Founder Jack Ma: Digital Currencies are the Future of Financial System

Alibaba Group founder Jack Ma talked about digital currencies, potentially playing an important role in building the financial system of the future. Ma at...

Kanye West and Kevin Hart Gives Bitcoin (BTC) a Shout Out

Over the weekend, Bitcoin got a shout out from two celebrities. The first one came from Kanye West, who appeared on Joe Rogan’s popular podcast...

Ethereum 2.0 Deposit Contract Almost Ready, Awaiting NCC Group Audit Approval

The Deposit Contract of Ethereum 2.0 is almost ready, according to Danny Ryan, a researcher from the Ethereum Foundation. He revealed this development when...

DeFi Harvest Finance Total Value Locked Halves & FARM Tanks Following ‘Economic Attack'

Another day, another DeFi exploit. It was last week that the less than two-month-old Harvest Finance saw its total value locked (TVL) surge to $1.175...

Crypto Market Sentiments Do A 180; From Fear to ‘Borderline Euphoric' Following Bitcoin Rally

Since surging last week to hit $13,000, Bitcoin has been keeping around this level. More importantly, over the weekend, Bitcoin made its first close above...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today