Commodity Futures Buying and selling Fee (CFTC) commissioner Goldsmith Romero cited Joe Cisewski’s expertise in digital property as a key purpose behind onboarding him as chief of workers and senior counsel.
Asserting the transfer on Tuesday, commissioner Romero pointed to Cisewski’s 14 years of expertise working throughout the CFTC, Securities and Alternate Fee (SEC) and crypto enterprise fund Pantera Capital.
“Joe’s distinctive mixture of private and non-private sector experiences will serve us properly as we take daring steps to make sure the resilience of our markets, shield traders and market contributors,” she mentioned, including:
“His fluency on digital-assets and different points will likely be priceless because the Know-how Advisory Committee embarks on its agenda later this 12 months.”
Previous to this new function, Cisewski most just lately served as the final counsel to Pantera Capital, which claims to have 100 enterprise investments and $5.1 billion property underneath administration (AUM).
He offered the agency with authorized and regulatory steering regarding the agency’s funds and funding advisers, whereas additionally partaking with regulators over Pantera’s initiatives and portfolio corporations.
In Could, Cisewski attended a roundtable between crypto business professionals and the CFTC during which potential regulation regarding the clearing of margin merchandise (together with crypto) and not using a futures fee service provider (FCM) middleman was mentioned.
In his earlier stint on the CFTC, Cisewski served because the senior particular Counsel and coverage adviser to former commissioner Mark Wetjen, who, equally to Cisewki, left the general public sector to take up a task at main crypto alternate FTX as its head of coverage and regulatory technique late final 12 months.
CFTC and crypto
Alongside the SEC, the CFTC shares a serious function within the regulation of crypto in the US, and its function might quickly outweigh that of the SEC’s if the Accountable Monetary Innovation Act tabled by crypto-friendly senators Cynthia Lummis and Kirsten Gillibrand is enacted subsequent 12 months.
The 2 senators have repeatedly mentioned that the majority crypto property can be labeled as commodities, and will that maintain true, it might successfully give the CFTC a broader jurisdiction over the sector than the SEC.
Associated: SEC itemizing 9 tokens as securities in insider buying and selling case ‘might have broad implications’ — CFTC
As beforehand reported, CFTC chair Rostin Behnam introduced on Monday that the regulator was increasing the scope of its fintech-focused LabCFTC unit to fall underneath the Workplace of Know-how Innovation (OTI).
Behnam acknowledged that CFTC is ramping up its focus to supply “essential regulatory protections” for commodities markets, together with crypto.
“We at the moment are engaged in a extra proactive and complete effort throughout the company to control these markets with the instruments presently accessible to us,” Behnam mentioned.
