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Bitcoin Futures policymaker is resigning CFTC

Bitcoin Futures policymaker is resigning CFTC

According to the report, Amir Zaidi who serves as a Director of the Division of Market Oversight (DMO) in US CFTC is leaving the agency in the next few weeks. 

August 09, 2019 | AtoZ Markets – US Commodity Futures Trading Commission (CFTC) – Amir Zaidi who is a director of Division of Market Oversight (DMO) and the main head behind policy-making for Bitcoin Futures is leaving the organization. Amir is also responsible to handle over-the-counter swaps. 

DMO had been led by Amir since January 2017 and is considered to be one of the important department in the CFTC. According to the report, Amir Zaidi is going to leave the agency in the next few weeks. 

Former DMO Director, Vincent McGonagle who is currently serving as Deputy Director of Enforcement would take over the position of Director for the DMO. Amir Zaidi, who has been with US CFTC since the year 2010, played a vital role in defining the role of regulators in the cryptospace.

Zaidi previous comments about virtual currency derivatives

During the month of May, CFTC made an announcement that the team is trying to provide regulatory clarity for digital currency derivative. The report is in order to help out cryptocurrency exchanges and clearing-houses. It was a jointly made statement by the DMO and Division of Clearing and Risk and explained the necessity for providing additional market surveillance and proper coordination with the staff members of CFTC, large trader reporting and DCO risk management and governance.   

Zaidi commented: “CFTC staff will seek to provide additional guidance to help market participants keep pace with innovation while complying with CFTC regulations.”

Fintech Chief also resigned CFTC

According to 05th August report, the first Chief Innovation Officer and Director of LabCFTC, aka CFTC Fintech Chief, Daniel Gorfin decided to leave the agency to pursue his career in the private sector. LabCFTC operations mainly focus on the educational side rather than legislation. Most of the primers so far have focused on viability and use cases of the Blockchain technology.

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