On Thursday (December 24), Elad L. Roisman got named as the new Chairman of the U.S. Securities and Exchange Commission (SEC).

According to his SEC bio, Roisman was appointed by President Trump to the SEC, and he was sworn into office on 11 September 2018. Roisman got his bachelor’s degree in History from Cornell University and earned his juris doctorate at the Boston University School of Law.

Along with SEC Commissioner Hester Hester Peirce, he has a reputation of being friendly toward the crypto space. This is what he said about ICOs and blockchain technology at a Senate Banking Committee hearing in July 2018:

“The U.S. capital markets are the envy of the world, and the importance of the SEC’s role in this cannot be overstated. Throughout its history, the dedicated commissioners and staff of the SEC have worked to preserve confidence as our markets grew and evolved.

“To continue this, 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.”

Well, at 14:37 UTC on December 24, Commissioner Peirce confirmed that Roisman is the new SEC Chairman:

This news comes just one day after former SEC Chairman Jay Clayton announced via a public statement that he had submitted his letter of resignation to President Trump.

The following is the text of his letter:

“I again want to thank the 4,500 outstanding women and men of the SEC for their service to investors, our markets and our country.  They have shown time and again how fortunate we are as a nation to have individuals of strong character and unwavering commitment serving at this great agency.  Their importance and the impact of their efforts were on full display this past year, when, in the face of tremendous operational, personal and professional challenges, they came together and worked tirelessly to support the continued functioning of our markets.  To a person, they know that the over 65 million American households invested in the future of America are counting on the SEC to ensure that our markets provide opportunity with fairness and transparency for all. 

“I know the women and men of the SEC will continue to pursue their mission — protecting investors, maintaining fair, orderly and efficient markets and facilitating capital formation — with passion, professionalism and mutual respect.  It has been the honor and privilege of my professional life to serve the public alongside them.”