CFTC Chairman appoints veteran crypto attorney Passalacqua as Senior Advisor

BlockBeats News, January 21 — The U.S. Commodity Futures Trading Commission (CFTC) Chairman Michael Selig announced the appointment of senior crypto attorney Michael Passalacqua to join the CFTC as a senior advisor, bringing extensive experience in cryptocurrency and blockchain litigation. Michael Passalacqua previously participated in drafting a letter that prompted the U.S. Securities and Exchange Commission (SEC) to issue a no-action letter, allowing state-chartered trust companies to serve as cryptocurrency custodians.

As the CFTC's role in cryptocurrency regulation becomes increasingly important, the appointment of a new advisor with extensive experience in the crypto field signifies that the CFTC is working to make its regulatory approach "future-oriented."