Here's what a new SEC chair could mean for crypto, according to Bitcoin investor Michael Novogratz

Michael Novogratz
Anjali Sundaram | CNBC

(This story is for CNBC Pro subscribers only). 

A potential change at the top of United States' main securities regulator could be a good thing for cryptocurrencies, investor Michael Novogratz said on Monday. 

In a power struggle over the weekend, the Trump administration moved to replace the top federal prosecutor in the Southern District of New York. President Trump said he would nominate Jay Clayton, the current chairman of the Securities and Exchange Commission, to fill that role.

Novogratz, who is the founder and CEO of Galaxy Digital, said on "The Exchange" that a change at the SEC could help cryptocurrencies move forward. 

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