Chief Advisor Harry Jung has been appointed to steer the US Commodity Futures Buying and selling Fee (CFTC) in its cryptocurrency, DeFi, and digital asset initiatives.
Harry Jung Takes over CFTC’s Crypto Initiatives
In response to the official web site of the regulatory physique, CFTC Appearing Chair Caroline D. Pham introduced management modifications throughout the group right now. Other than serving because the chief advisor to Appearing Chair Pham, Harry Jung can even lead the CFTC’s work within the areas of crypto, DeFi, and different digital property. Jung will function the Designated Federal Officer for the CFTC’s International Markets Advisory Committee.
This improvement hints on the potential clearer crypto regulation within the close to future.
Congratulating the employees serving the CFTC on an interim foundation, Pham said, “I’m happy to announce CFTC management modifications with the start of the brand new Administration, and I need to acknowledge and thank former Chairman Behnam and his employees, in addition to Steve Adamske, Director, Workplace of Public Affairs; Clark Hutchison, Director, Division of Clearing and Threat; Ian McGinley, Director, Division of Enforcement; Vince McGonagle, Director, Division of Market Oversight; Amanda Olear, Director, Market Members Division; Suyash Paliwal, Director, Workplace of Worldwide Affairs; Rob Schwartz, Common Counsel; and Ann Wright, Director, Workplace of Legislative and Intergovernmental Affairs, who’ve been the CFTC’s govt management crew over the previous a number of years.”
Earlier than becoming a member of the CFTC in 2023 as an advisor and senior coverage advisor to Commissioner Pham, Harry Jung held a number of key roles at Citigroup. These included Senior Vice President within the Workplace of the CEO and the Workplace of the Chief Administrative Officer, the place he targeted on international regulatory technique. Jung additionally spearheaded crypto regulatory efforts, working carefully with US prudential regulators and capital market regulators.
The crypto business usually prefers the CFTC over the Securities and Alternate Fee (SEC) as a result of its comparatively lighter regulatory method. Consequently, not like in earlier years, the CFTC may even oversee the spot markets for Ethereum and Bitcoin, supplied Congress offers the mandatory authority.
Additionally Learn: SEC Launches New Crypto Activity Drive To Make clear Laws
Chief Advisor Harry Jung has been appointed to steer the US Commodity Futures Buying and selling Fee (CFTC) in its cryptocurrency, DeFi, and digital asset initiatives.
Harry Jung Takes over CFTC’s Crypto Initiatives
In response to the official web site of the regulatory physique, CFTC Appearing Chair Caroline D. Pham introduced management modifications throughout the group right now. Other than serving because the chief advisor to Appearing Chair Pham, Harry Jung can even lead the CFTC’s work within the areas of crypto, DeFi, and different digital property. Jung will function the Designated Federal Officer for the CFTC’s International Markets Advisory Committee.
This improvement hints on the potential clearer crypto regulation within the close to future.
Congratulating the employees serving the CFTC on an interim foundation, Pham said, “I’m happy to announce CFTC management modifications with the start of the brand new Administration, and I need to acknowledge and thank former Chairman Behnam and his employees, in addition to Steve Adamske, Director, Workplace of Public Affairs; Clark Hutchison, Director, Division of Clearing and Threat; Ian McGinley, Director, Division of Enforcement; Vince McGonagle, Director, Division of Market Oversight; Amanda Olear, Director, Market Members Division; Suyash Paliwal, Director, Workplace of Worldwide Affairs; Rob Schwartz, Common Counsel; and Ann Wright, Director, Workplace of Legislative and Intergovernmental Affairs, who’ve been the CFTC’s govt management crew over the previous a number of years.”
Earlier than becoming a member of the CFTC in 2023 as an advisor and senior coverage advisor to Commissioner Pham, Harry Jung held a number of key roles at Citigroup. These included Senior Vice President within the Workplace of the CEO and the Workplace of the Chief Administrative Officer, the place he targeted on international regulatory technique. Jung additionally spearheaded crypto regulatory efforts, working carefully with US prudential regulators and capital market regulators.
The crypto business usually prefers the CFTC over the Securities and Alternate Fee (SEC) as a result of its comparatively lighter regulatory method. Consequently, not like in earlier years, the CFTC may even oversee the spot markets for Ethereum and Bitcoin, supplied Congress offers the mandatory authority.
Additionally Learn: SEC Launches New Crypto Activity Drive To Make clear Laws
