US CFTC Appoints Crypto Specialist Lawyer as Senior Counsel

JH Kim

Summary

The US CFTC said it has appointed Michael Passalacqua, a lawyer specializing in virtual assets, as one of its two senior counsels.
It said the appointment is expected to contribute to refining the CFTC’s policy and supervisory framework amid the digital asset market environment.
It said this reflects the CFTC’s move to strengthen its supervisory capabilities over the virtual-asset market and to further sharpen related regulation and legal interpretations.

According to Cointelegraph, a media outlet specializing in virtual assets (cryptocurrencies), on the 20th (local time) the US Commodity Futures Trading Commission (CFTC) appointed a lawyer specializing in virtual assets as one of its two senior counsels.

CFTC Chairman Michael Selig recently named Michael Passalacqua as a senior counsel. Passalacqua previously worked at global law firm Simpson Thacher & Bartlett, where he primarily handled litigation and regulatory issues related to virtual assets.

Chairman Selig said, "Passalacqua brings experience handling complex virtual-asset cases, and we expect him to contribute to refining the CFTC’s policy and supervisory framework in the rapidly changing digital-asset market environment."

The appointment is seen as part of the CFTC’s broader push to strengthen its supervisory capabilities over the virtual-asset market and to further sharpen related regulation and legal interpretations.