Interesting news in recent announcements. The CFTC has just appointed Michael Passalacqua as senior advisor for cryptocurrency oversight. Passalacqua is a lawyer who has worked extensively on crypto litigation; he previously worked at Simpson Thacher & Bartlett, handling legal cases related to blockchain and cryptocurrencies.

These CFTC announcements clearly indicate that they want to strengthen their grip on sector regulation. The fact that they are bringing in people with specific crypto experience is a sign that they are serious. In such a rapidly changing industry, you need people who truly understand how blockchain works.

I wonder if this means regulatory announcements will become more frequent in the coming months. Anyway, it’s the kind of move that keeps everyone on their toes.