Former CFTC Chairman Chris Giancarlo has moved from regulating digital currencies to fighting for one with the launch of the Digital Dollar Foundation.
J. Christopher Giancarlo, who resigned from the CFTC earlier this year, has landed at the swanky midtown Manhattan offices of leading law firm Willkie Farr & Gallagher. From his perch as Chairman of the Commodity Futures Trading Commission, Giancarlo was a forceful advocate for American cryptocurrency and blockchain innovation.
The Commodity Futures Trading Commission’s Enforcement Division paid for itself four times over in fiscal year 2019. In fact, the $205 million in fines it assessed covered 80% of the agency’s $249 million total budget. The division also said policing digital assets had become one of its main goals. While it didn’t break down how much of that came from cryptocurrency and digital assets cases...
Cryptocurrency derivatives exchange LedgerX has accused former U.S. Commodity Futures Trading Commission Chairman J. Christopher Giancarlo of carrying out a revenge campaign. LedgerX wrote two letters of complaining about Giancarlo to the CFTC in July, Coindesk reported September 28. Giancarlo is known as “Crypto-Dad” because of his favorable view of the cryptocurrency industry. Coindesk obtained the letters, written on July 3 and July 11 from the CFTC via a Freedom of Information Act request. In them, LedgerX CEO Paul Chou claimed Giancarlo deliberately sabotaged and delayed its vital derivatives clearing organization (DCO) license application. “In January, the Chairman called one of our board members and told him that he was going…
