The Securities and Exchange Commission (SEC), under the leadership of Chairman Paul Atkins, announced four senior appointments today as it enters a new era.
Two of these appointments consist of individuals experienced in digital assets. This step is seen as a strong signal that the SEC has adopted a more friendly approach towards cryptocurrencies.
As of June 17, Jamie Selway will take on the role of Director of the SEC’s Trading and Markets Division. On July 8, Brian T. Daly will begin his role as Director of the Investment Management Division.
Selway most recently worked as a partner at Sophron Advisors, where he provided consulting on capital markets. Previously, Selway consulted for many financial technology companies and served as the global head of institutional markets at a Blockchain company from 2018 to 2019.
In his statement regarding the appointment, Selway said, “Chairman Atkins is starting a ‘new day’ at the SEC. I thank him for giving me the leadership of the Trading and Markets division during this exciting and critical time. By supporting the SEC’s mission, we will promote innovation in a way that benefits our investors.”
Daly joined the SEC from the law firm Akin Gump Strauss Hauer & Feld LLP. Here, Daly, who works as a partner in the investment management practice, is known for his expertise in cryptocurrencies, blockchain technology, and traditional financial services. His resume also includes experience in areas such as hedge funds and credit funds.
Daly had spoken to the Financial Times about the withdrawal of the SAB 121 guidance, which required digital assets to be shown as liabilities on banks’ balance sheets, previously implemented by the Biden administration. Stating that this practice made it impossible for “responsible banks, broker-dealers, and financial intermediaries to offer crypto custody services,” Daly had said that custody services are essential for financial institutions to be able to provide crypto services.
*This is not investment advice.
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