CFTC strengthens crypto focus with Harry Jung’s digital asset appointment
CFTC strengthens crypto focal level with Harry Jung’s digital asset appointment CFTC strengthens crypto focal level with Harry Jung’s digital asset appointment
Jung to lead CFTC's coordinated digital asset plot amid broader leadership shifts and regulatory readability efforts.
Veil art/illustration by CryptoSlate. Affirm comprises mixed swear material which might neutral embody AI-generated swear material.
The US Commodity Futures Trading Commission (CFTC) has appointed Harry Jung to spearhead its crypto, DeFi, and digital resources efforts.
Jung will also aid as Performing Chief of Workers under Performing Chair Caroline Pham, per a Jan. 23 commentary.
Jung’s promotion builds on his trip as the Designated Federal Officer for the CFTC’s Global Markets Advisory Committee. In that neutral, he collaborated with policymakers and exchange leaders to deal with emerging developments in digital markets.
In step with the click commentary:
“[Jung has] coordinated agency-wide working teams on emerging considerations and global policy forums, to boot as led the regulatory engagement regarding digital resources with US prudential and capital markets regulators.”
Since joining the CFTC in 2023, he has served as Counselor and Senior Policy Handbook to Pham throughout her tenure as Commissioner.
Earlier than his tenure on the agency, Jung obtained intensive trip at Citigroup, Morgan Stanley, and the Financial Commercial Regulatory Authority (FINRA), the build he labored on regulatory ideas for digital markets.
In the meantime, this appointment is a a part of broader leadership adjustments on the CFTC under Pham’s route. Meghan Tente, Pham’s worn Chief of Workers, now serves as Performing Total Counsel.
Additionally, Taylor Foy has been appointed Performing Director of Public Affairs, while Nicholas Elliot briefly leads the Space of work of Legislative and Intergovernmental Affairs.
Evolving landscape
The CFTC’s determination to appoint a devoted crypto lead comes as US regulators ramp up their efforts to deal with the challenges posed by the evolving digital asset landscape.
Performing Chairman Save Uyeda announced a fresh crypto task power earlier this week. This initiative objectives to place a determined regulatory framework for the exchange, addressing the shortcomings of enforcement-pushed approaches.
Commissioner Hester Peirce, a lengthy-time recommend for innovation within the digital asset situation, will lead the SEC’s task power. Senior Advisors Richard Gabbert and Taylor Asher will enhance her.
Many deem these developments signal a shift in opposition to regulatory readability under President Donald Trump’s administration.
They emphasized that these efforts will increase market self assurance, pave the formulation for banks’ broader adoption of blockchain technology, compose better investor participation in cryptocurrencies, and deepen the integration of Web3 recommendations all over industries.
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Save Toshiro Uyeda is an American attorney and executive legit, at this time serving as the Performing Chair of the U.S.
Hester Peirce, is named the “Crypto Mom” for her legit-cryptocurrency and blockchain stance, was as soon as sworn in as Commissioner of the U.S.
Donald John Trump was as soon as born on June 14, 1946, in Queens, Novel York Metropolis.
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