Chris Giancarlo, who served as chairman of the board of the U.S. Commodity Futures Trading Commission until 2019, will join the board for new blockchain-based digital assets.

A Digital Asset statement released on Tuesday said Giancarlo would advise on asset tokenization, distributed ledger technology and the potential impact of regulatory changes in the crypto area. The former head of the CFTC currently serves as a senior adviser to law firm Willkie Farr & Gallagher and is one of the founders of the Digital Dollar Project, a nonprofit organization that aims to collect data to inform U.S. lawmakers about the development of a central bank’s digital currency. or CBDC.

“We are heading for a digital economic transformation that requires companies to safely and securely connect and exchange assets,” said Giancarlo.

During his tenure as chairman of the CFTC, Giancarlo was also a member of the U.S. Financial Stability Oversight Committee, Presidential Task Force on Financial Markets and Executive Board of the International Organization of Securities Commissions. He is referred to by many in the crypto and blockchain industry as “Crypto Dad” for supporting digital assets during his five years at the CFTC, including overseeing the launch of regulated Bitcoin (BTC) futures contracts and advocating “do no harm.” approach to blockchain regulation. .

Giancarlo was replaced as chairman by Heath Tarbert in July 2019, and current CFTC Commissioner Rustin Behnam took over as president in 2021 before being confirmed by the Senate in December. Although he is no longer an official representative of any US government agency, Crypto Dad was a member of BlockFi’s board for four months in 2021 and recently joined the investment firm CoinFund as a strategic advisor.

Related: Chris Giancarlo: The US risks becoming “stagnant” without the central bank’s digital currency

The digital asset has raised over $ 300 million in funding rounds since it was founded in 2014, and most recently raised $ 120 million in a Series D funding round in April 2021. The company has acquired cryptocurrency and blockchain companies including Hyperledger and Bits. Proof, Blockstack and Elevation.

Source: CoinTelegraph

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