Posted 1 year ago | by @devadmin

Elad Roisman is set to take over as Chairman of the United States Securities and Exchange Commission effective immediately, according to Commissioner Hester Peirce.

Peirce tweeted the news on her Twitter this morning congratulating the pro-cryptocurrency regulator Roisman f0r his nomination as interim head.

Both commissioners, Peirce and Roisman were said to be the leading candidates to replace Jay Clayton as Chairman of the agency.

Clayton resigned from his seat as head of the SEC in a statement posted on the SEC’s website. The move was widely expected as Clayton had previously indicated his desire to leave the agency by the end of the year.

Roisman was previously appointed commissioner to the SEC in 2018. However, before his profession in the SEC, he served as chief counsel to the U.S. Senate Committee on Banking, Housing, and Urban Affairs.

President-elect Joe Biden will soon announce a permanent replacement for Clayton, which means Roisman’s position is only temporary, Bloomberg reported.

Roisman, like Peirce, is considered to be more pro cryptocurrency and positive regulation for the industry. For example, while he was still a member of the U.S. Senate Banking Committee on Banking, Housing, and Urban Affairs in 2018, Roisman said:

“[…] SEC must examine and re-examine its rules, regulations and guidelines to ensure that they are still working as intended to accomplish the SEC’s mission. This is most recently manifested in areas such as data protection and cybersecurity, as well as the emergence of new investments and technologies such as initial coin offerings and blockchain.”

While Roisman is pro-cryptocurrency that doesn’t mean he’ll be a lite weight on the industry. Although, as Forbes writer, David Gokhshtein tweeted it will be very interesting to see how Roisman handles the current Ripple case opened up by Jay Clayton prior to resigning from his post.

Bitcoin is currently trading at [FIAT: $23,330.56] DOWN -1.0% in the last 24 hours according to Coingecko at the time of this report.