Chris Giancarlo, who served as chair for the U.S. Commodity Futures Buying and selling Fee till 2019, will likely be becoming a member of the board of administrators for blockchain startup Digital Asset.
In a Tuesday announcement, Digital Asset said Giancarlo could be offering counsel on asset tokenization, distributed ledger know-how, and the attainable impression of regulatory developments on the crypto area. The previous CFTC chair is at present working as senior counsel on the Willkie Farr & Gallagher legislation agency and co-founded the Digital Greenback Challenge, a non-profit group geared toward producing information to tell U.S. lawmakers on creating a central financial institution digital forex, or CBDC.
“We’re on the precipice of a digital financial transformation that can necessitate protected and safe methods for companies to interconnect and share belongings,” mentioned Giancarlo.
I’m excited to affix the board of @digitalassetcom at this vital stage in rising #web3 evolution. https://t.co/NXJW9dtafk
— Chris Giancarlo (@giancarloMKTS) January 25, 2022
Throughout his time as CFTC chair, Giancarlo additionally served as a member of the U.S. Monetary Stability Oversight Committee, the President’s Working Group on Monetary Markets and the manager board of the Worldwide Group of Securities Commissions. Many in crypto and blockchain referred to him as “Crypto Dad” for supporting digital belongings throughout his 5 years on the CFTC, together with overseeing the launch of regulated Bitcoin (BTC) futures and advocating for a “do no hurt” method to blockchain regulation.
Giancarlo was changed as chair by Heath Tarbert in July 2019, for whom present CFTC commissioner Rostin Behnam took over in 2021 as appearing chair earlier than being confirmed by the Senate in December. Although not serving in an official capability for any U.S. authorities company, the Crypto Dad was on the board of administrators at BlockFi for 4 months in 2021, and lately joined blockchain funding agency CoinFund as a strategic advisor.
Chris Giancarlo: U.S. dangers turning into ‘backwater’ with out central financial institution digital forex
Digital Asset has raised greater than $300 million by funding rounds since its founding in 2014, most lately elevating $120 million in a Collection D financing spherical in April 2021. The agency has acquired corporations within the crypto and blockchain area together with Hyperledger, Bits of Proof, Blockstack and Elevence.
