SEC Promotes Veteran Gary Gensler Ally Will Take Over Media Relations Post. The cryptocurrency sector needs more allies in influential positions, but the Securities and Exchange Commission (SEC) continues expanding its staff and resources that are sceptical of cryptocurrencies.
On Wednesday afternoon, Stephanie Allen, a former national press secretary for Senator Bob Casey (D-Pa.), was named the SEC’s head of media relations and speechwriting.
Allen is welcomed to the top media relations position by the SEC.
According to the SEC’s release, Allen’s promotion has been in force since October 1 but was not made public until today. She succeeds Aisha Johnson, who left the SEC.
SEC Promotes Veteran Gary Gensler Ally Will Take Over Media Relations Post. Allen is a seasoned member of the organization. Since March 2023, she has worked as Gary Gensler, the SEC’s chairman, speechwriting director, and senior adviser. At the Commodity Futures Trading Commission (CFTC), the two previously collaborated. According to her LinkedIn profile, Allen worked for the CFTC from July 2011 to March 2014.
In addition, she participated in a panel supporting Gensler at a seminar in July on “Artificial Intelligence and Finance.”
She previously held the position of executive director of the Ludwing Institute.
Position of Senator Bob Casey on Digital Assets
Senator Casey was one of four influential legislators who signed a letter to US Treasury Secretary Janet Yellen on August 1. Senators Elizabeth Warren (D-Mass. ), Richard Blumenthal (D-Conn.), and Bernie Sanders (I-Vt.) were the other signatories.
SEC Promotes Veteran Gary Gensler Ally Will Take Over Media Relations Post. According to BeInCrypto, the senators asked for information on the Treasury Department’s progress in implementing new reporting requirements in this letter. What is the end goal? To close the United States’ $1 trillion tax shortfall.
The senators contended that the additional reporting requirements are obligatory under the Infrastructure Investment and Jobs Act. The senators blame several problems for underreported or unreported income. However, they are evident that they see cryptocurrencies as the primary culprit.
They, therefore, ask for an update on the status of efforts to halt “runaway tax evasion across the cryptocurrency ecosystem” and give taxpayers the tools they need to declare their Bitcoin profits appropriately.
Learn more about Senator Elizabeth Warren’s ongoing opposition to cryptocurrency.
The letter was written before Allen worked for Senator Bob Casey. She nevertheless has a long-standing professional relationship with Gary Gensler, the current SEC chair. This official is the one who described cryptocurrency as “a field rife with fraud, rife with hucksters.” Who also has consistently increased the SEC’s