The SEC just got a lot more crypto friendly!

A lot can change in a matter of days...

Two days ago, the SEC files suit against Ripple and their CEO. The public reacts. A day later the SEC Chairman, Jay Clayton steps down.

Coincidence?

Actually it probably is.

The Chairman of the SEC has hinted several times that he would be stepping down at the end of his term, but his term was not yet up, so him stepping down yesterday was a little earlier than expected.

This also coming a day after the hugely controversial suit brought against Ripple and co...

Irregardless of whether or not him stepping down actually had anything to do with the Ripple suit, the fact that he's stepping down is what matters.

He has been neutral, at best, in regards to crypto.

however, I would argue he has been negative towards it, especially with his unwillingness to approve a bitcoin ETF while approving leveraged volatility ETFs etc.

Seemed to be a bit incongruent to me, but that is a topic for another day.

Out with the old and in with the new!

Jay Clayton is out and there's already been an interim replacement named...

Elad Roisman.

Elad Roisman has long been considered a friend to crypto, this from back in 2018 when he was named to the Senate:

https://ethereumworldnews.com/senate-confirms-pro-crypto-elad-roisman-sec/

And our very own "crypto mom" in the SEC (Hester Peirce) is glad to see him appointed to the head role:

(Source: ~~~ embed:1342117853617680386) twitter metadata:MUNyeXB0aWNQb2V0fHxodHRwczovL3R3aXR0ZXIuY29tLzFDcnlwdGljUG9ldC9zdGF0dXMvMTM0MjExNzg1MzYxNzY4MDM4Nil8 ~~~

As it stands currently, he is just the acting Chairman and Biden will have to officially name his pick in the coming weeks.

There is a chance he will pick someone else, but there is also a decent chance he leaves this pick in place, which is very interesting for crypto and specifically Ripple/altcoins.

It appears I am not the only one noticing the possibilities here:

(Source: ~~~ embed:1342131417568825344/photo/1) twitter metadata:Y3J5cHRvX3JldHdlZXRzfHxodHRwczovL3R3aXR0ZXIuY29tL2NyeXB0b19yZXR3ZWV0cy9zdGF0dXMvMTM0MjEzMTQxNzU2ODgyNTM0NC9waG90by8xKXw= ~~~

Time will tell, but this may end up being some of the biggest news of the year for crypto.

If we get a more crypto friendly SEC it can make all the difference in whether this new technology takes off and flourishes or whether it is choked out and forced to move towards more friendly jurisdictions.

Personally, I couldn't be happier as I was not a fan of Jay Clayton at all due to some of his comments towards bitcoin and crypto and am happy to see a more open-minded and technology oriented Chairman in place.

Stay informed my friends.

Image Source:

https://ethereumworldnews.com/senate-confirms-pro-crypto-elad-roisman-sec/

-Doc

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