Chris Giancarlo, ex-chairman of the US Commodity Futures Trading Commission (CFTC), has decided to go full-time in giving advice to cryptocurrency and fintech companies after leaving his law firm. Being one of the earliest supporters of the crypto sector, he was nicknamed “Crypto Dad”. He intends to spend his time guiding founders, CEOs, and boards of FinTech and Digital Assets companies, as well as researching and writing original articles on public policy issues.
A Life of Regulation and Advocacy
Chris Giancarlo took the oath of a CFTC commissioner back in 2014, and from August 2017 to July 2018, he acted as the chairman. It was under his leadership that the first Bitcoin futures markets in the US were given the green light, a move that resulted in him being dubbed “Crypto Dad”.
Even after that, Chris Giancarlo has shared his thoughts on crypto regulatory issues, and one of the companies he has assisted is Sygnum, which is a Swiss crypto bank, on matters of global regulations and strategic partnerships.
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Regulatory Clarity and the Future of Finance
In a recent conversation with Charles, Chris Giancarlo reiterated that in order for banks to be able to invest in digital assets, it is vital that the crypto industry receive clear regulation. That US decision to modernize the financial infrastructure to integrate blockchain technology, rather than fear being overshadowed by other countries, he considers.
Apart from leaving the law profession, Chris Giancarlo’s exit also has the crypto industry that keeps on facing the combination of changes and regulatory developments.
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Regulators Flock to Crypto
Besides Chris Giancarlo, there have been other former CFTC chairpersons who have gone into the crypto sector. For example, in December, Caroline Pham, former CFTC acting chair, became MoonPay’s chief legal officer. This event indicates that regulators have an increasing interest in the crypto industry and want to have the necessary expertise in understanding regulatory frameworks.
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