With the departure of Jay Clayton from the Chair position at the SEC, came the questions of who would take his place? Well like most of the SEC and regulatory news – this came fast! The new Chair of the SEC will be Elad L. Roisman.
You can find Elad L. Roismans full bio here. Reading the bio it’s nearly impossible to get a feel for his position of innovative technologies like blockchain and cryptocurrencies (cough, cough, Ripple XRP).
During Elad’s hearing on July 24th 2018 before the Senate Banking Committee he had this to say regarding crypto:
“…the 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. It is essential that the SEC approach these new challenges in a fair and transparent manner, provide clarity and certainty to the markets and investors, and enforce the laws and regulations that hold market participants accountable.”
During that same hearing Elad’s hearingf he also had this to say:
“There’s a perception that the markets are rigged against the little guy and I think it’s important for the SEC to try to dispel that notion.”
Elad was also involved in a positive way with Hester Peirce (crypto mom). Elad has been said to have the same pedigree as Hester – for what that’s worth.
Too little is known about Elad‘s crypto option/outlook and if he will be a friend or foe for Ripple during this SEC Lawsuit. Time will reveal all.
We will come back to you all with any more news or updates on this breaking story.
Note: This Chairman may be temporary depending on the Presidential administration. Still fact checking on this.
