SEC Chairman Gary Gensler hires Senate banker to advise on crypto policy

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2022-01-01 10:19:20

Corey Frayer spent a decade as an advisor to members of Congress before serving as a senior staff member on the Senate Banking Committee to Senator Sherrod Brown (D-Ohio).

US Securities and Exchange Commission (SEC) Chairman Gary Gensler has hired a senior advisor specializing in cryptocurrencies, according to an announcement Thursday.

Corey Frayer, who spent a decade as a senior advisor to members of Congress before becoming a senior staff member on the U.S. Senate Committee on Banking, Housing, and Cities under the Chairman of the Committee. Senator Sherrod Brown (D-Ohio), was selected for the role.

Gensler’s appointment of a crypto-focused senior advisor aligns with his stated focus on establishing a regulatory framework for cryptocurrencies, as well as a signal that the SEC could step up attempt to regulate the industry by 2022.

According to a source familiar with the Senate Banking Committee, Frayer has been leading crypto policy for Brown, who has been outspoken about his concerns about the risks cryptocurrencies could pose to banks. investors, calling blockchain a “shady online money network” at a hearing in July — and other top Democrats.

Per the announcement, Frayer’s new role at the SEC will focus on “policy making and interdisciplinary work related to the supervision of crypto-assets.”

Frayer holds a degree in International Economics and Finance from Catholic University of America.

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