Biden Confirms Crypto-Savvy Gary Gensler Will Lead Financial Policy Transition Team


Gary Gensler, a Washington and Wall Street veteran who has closely studied the budding cryptocurrency field, will lead the financial policy transition team for projected U.S. president-elect Joe Biden.

A former chairman of the Commodity Futures Trading Commission (CFTC), Gensler was tapped to lead the agency review team for the Federal Reserve, banking and securities regulators, the Biden campaign formally announced Tuesday, following reports last week he was a contender. 

As CFTC chairman, Gensler served as a key financial regulator for former President Barack Obama, spearheading new derivatives rules after the 2008 financial crisis. He also served in the Treasury Department during the Clinton administration. 

Gensler did not return a request for comment.

He was one of 500 individuals named Tuesday, when the Biden-Harris transition team announced the names of members of these agency review teams who will evaluate the function of federal agencies and help ensure a smooth transition. 

To be sure, incumbent President Donald Trump has contested the election results and has filed lawsuits in a handful of states seeking to have votes discounted due to alleged irregularities, though with little evidence so far.

Also on the list for the Biden review team for financial regulators are several other policy experts who have paid careful attention to cryptocurrency, blockchains and related matters: 

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