CFTC Taps Coinbase Lawyer to Head Division Overseeing Bitcoin Futures

The U.S. Commodity Futures Buying and selling Fee (CFTC) has just named Coinbase vice president Dorothy DeWitt as its new industry supervisor.

CFTC Chairman Heath Tarbert declared in a press launch Tuesday that DeWitt, who is also the exchange’s common counsel for company traces and markets, will be the new director of the Division of Market place Oversight, the team responsible for overseeing derivatives platforms and merchandise, such as the younger industry for bitcoin futures.

DeWitt has also expended time at Citadel Securities, S&P Global and Davis Polk & Wardwell, and has beforehand been a portfolio supervisor.

She succeeds previous DMO director Amir Zaidi, who oversaw the very first bitcoin futures contracts as they entered the crypto house in late 2017.

In a assertion, Tarbert thanked Zaidi “for his more than 9 yrs of provider at the CFTC,” stating:

“[DeWitt] provides to the CFTC more than 20 yrs of personal sector practical experience in the economic services and lawful fields. Her sturdy investment decision, danger, lawful, and compliance track record and familiarity with distributed ledger know-how, such as crypto belongings, will be invaluable as the agency looks to develop a holistic method to regulating 21st century commodities.”

Former DMO director Vince McGonagle has been serving as performing director of the division during the changeover period of time.

Tarbert very first took workplace in July 2019, following Congress confirmed him in June. The previous Treasury Division official succeeded Christopher Giancarlo, who was famously dubbed “Crypto Dad” following advocating for a “do no harm” method to regulating the crypto house ahead of Congress.

Considering the fact that leaving the agency, Giancarlo has joined the advisory board to the Chamber of Digital Commerce, a trade association centered on blockchain and cryptocurrency coverage in Washington D.C.

Dorothy DeWitt impression by way of CoinDesk archives