SEC adds officials with crypto experience as part of leadership overhaul

The U.S. Securities and Exchange Commission announced four senior appointments on Friday, including two officials with experience in digital assets, further signaling a friendlier approach to crypto under Chairman Paul Atkins.Effective June 17, Jamie Selway will assume the role of Director of the Division of Trading and Markets. Brian T. Daly will take over as Director of the Division of Investment Management on July 8.Selway was most recently a partner at Sophron Advisors, where he advised clients on capital markets issues, according to a release from the agency. He also served as an advisor to multiple financial technology companies and was briefly the global head of institutional markets at Blockchain from 2018 to 2019, according to his LinkedIn profile."Chairman Atkins is bringing about a 'new day' at the SEC," Selway said in the release. "I thank him for selecting me to lead Trading and Markets at this exciting and pivotal time. Together, we will promote the SEC’s mission and enable innovation, to the benefit of our nation’s investors."Daly joins the SEC from Akin Gump Strauss Hauer & Feld LLP, where he was a partner in the firm’s investment management practice. His official biography lists expertise in digital assets, cryptocurrency, blockchain, and traditional financial services, including hedge and credit funds.He was quoted by the Financial Times regarding the SEC's decision to reverse a Biden administration guidance known as SAB 121, which called for banks to treat digital assets held for customers as liabilities on balance sheets. Daly said the old rule "made it impossible for all the responsible banks and broker-dealers and financial intermediaries that we rely on to be crypto custodians," noting that custody services were "a predicate to everything "for financial institutions when offering crypto services to customers."I am optimistic about this new day at the SEC and eager to get to work with Chairman Atkins and my new colleagues to ensure regulatory compliance by investment advisers and fund managers while tailoring rulemakings within our statutory authority," Daly said.Also on Friday, the SEC announced Erik Hotmire will return as chief external affairs officer, while Kurt Hohl has been named chief accountant.Paul Atkins was sworn in as the agency's new chairman on April 22, three months after former chair Gary Gensler left the post. Since taking over, Atkins has promised a friendlier approach to digital assets.In March, the agency held its inaugural crypto task force roundtable to debate the future regulation of digital assets."I don't think that anyone could credibly argue that the last administration's approach to the industry accomplished any of the SEC's objectives," a16z crypto General Counsel Miles Jennings said at the time. "It did not lead to investor protection, it did not lead to capital formation and it did not lead to efficient markets."Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.