Former CFTC commissioner Jill Sommers joins FTX US Derivatives board
The addition of Jill Sommers followed former CFTC commissioner Mark Wetjen becoming FTX US' head of policy and regulatory strategy in November 2021. Jill Sommers, who served as a commissioner at the United States Commodity Futures Trading Commission, has joined the board of directors for FTX US Derivatives.In a Thursday announcement, crypto exchange FTX US’ derivatives arm said Sommers had become its latest board member in a move seeming to increase the company’s regulatory efforts. Sommers served as a CFTC commissioner from 2007 to 2013 under former Presidents Barack Obama and George W.....
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LedgerX, an institutional bitcoin trading and clearing platform, announced this week that Mark Wetjen, the ex-commissioner of the U. S. Commodity Futures Trading Comission (CFTC), will join its board. Nominated by President Barack Obama in 2011 and unanimously confirmed by the Senate as one of the five CFTC commissioners, Wetjen both helped to implement the first trading mandate for certain types of interest rate and credit default swaps and pushed the CFTC to undertake approximately 95 enforcement cases under the Dodd-Frank Act and Commodity Exchange Act. He also served as the acting....
A commissioner with the Commodity Futures Trading Commission (CFTC), Dawn Stump, has voiced concerns about cryptocurrency regulation through enforcement — the approach taken by both the CFTC and the U.S. Securities and Exchange Commission (SEC).
CFTC Commissioner Stump on Crypto Regulation
CFTC Commissioner Dawn Stump has raised concerns regarding the approach her agency and the U.S. Securities and Exchange Commission (SEC) are taking to regulate the crypto industry. The commissioner is a vocal proponent of clarifying guidelines for crypto assets.
In an....
"A trading platform that offers derivatives on digital assets to U.S. persons without registering, or in violation of CFTC trading rules, is subject to the CFTC’s enforcement authority," said Dawn Stump. Dawn Stump, one of four commissioners currently serving at the Commodity Futures Trading Commission, or CFTC, has released a statement clarifying the agency's authority with respect to digital assets. In a Monday statement, Stump said the CFTC is empowered with both regulatory and enforcement authority for commodities. She did not specifically say that digital assets were cash-like....
A commissioner of the Commodity Futures Trading Commission (CFTC) has spoken about the inadequacies and inefficiency of the current "closed ledger" banking system. He adds that distributed open ledgers could revolutionize financial ecosystems while noting certain "disruptive" implications for the current financial industry and those who are a part of it. Commissioner J Christopher Giancarlo spoke about bitcoin and the blockchain in a wide-ranging lecture on Fintech and international finance at the Harvard School of Law on December 1st. In a guest lecture that began with a disclaimer that....
The US Commodities Futures Trading Commission (CFTC) recently held a meeting on Bitcoin. The public meeting was held by the CFTC's Global Markets Advisory Committee (GMAC) and was sponsored by CFTC Commissioner Mark P Wetjen. The meeting was first called in September to discuss whether or not the CFTC has jurisdiction over Bitcoin derivatives. The CFTC was joined by expert panelists including Coin Center's Jerry Brito, Law Professor Houman Shadab, TeraExchange's founder Leonard Nuara, and BitPay's Chief Compliance Officer Tim Byun. Together, the group discussed Bitcoin futures' future and....