The Securities and Exchange Commission (SEC) has announced new staff appointments, including professionals with experience in the cryptocurrency industry. These changes come as discussions about digital asset legislation unfold.
Appointments at SEC
The SEC confirmed the appointment of Jamie Selway as director of trading and markets. Selway, previously serving as global head of institutional markets at Blockchain.com, has extensive experience in both traditional finance and the cryptocurrency sector. Joining him is Brian Daly, a former partner at Akin Gump Strauss Hauer & Feld LLP, who will lead the SEC’s investment management division. Daly has previously advised clients on digital asset compliance.
CLARITY Act
The new appointments come as lawmakers in the U.S. House of Representatives prepare to vote on the CLARITY Act, a proposed bill aimed at defining the regulatory boundaries between the SEC and CFTC regarding digital assets. This legislation could significantly shape the landscape for crypto oversight in the United States. On Thursday, the SEC also announced it would be withdrawing certain proposed rulemakings issued between March 2022 and November 2023.
Leadership Gaps at SEC and CFTC
The withdrawal marks a notable retreat from the SEC’s previously aggressive approach to regulating digital assets, though analysts say the agency’s future direction could still shift depending on new leadership and legislative outcomes. Currently, the SEC continues to operate with one vacant commissioner seat, while the CFTC faces an even larger challenge, with three commissioner seats presently unfilled.
The appointment of new professionals with experience in the cryptocurrency industry at the SEC reflects the changing regulatory landscape for digital assets in the U.S. and potential shifts in oversight approaches.
