Former CFTC Chair Christopher Giancarlo Joins Paxos Board of Directors
Archaic CFTC Chair Christopher Giancarlo Joins Paxos Board of Directors
Paxos, a number one regulated blockchain and tokenization infrastructure platform, appointed Christopher Giancarlo, the damaged-down Chairman of the United States Commodity Futures Trading Price (CFTC), to its board of directors on May maybe 14.
Giancarlo, a respected resolve within the financial services and products industry and a passionate advocate for blockchain know-how brings a protracted time of trip to Paxos as the company continues to innovate within the digital asset space.
Paxos Appoints Archaic CFTC Chairman to Its Board
Paxos highlighted the pass as phase of the company’s map to amplify in regulated crypto markets and come in innovation in stablecoins.
We’re angry to announce that damaged-down @CFTC Chairman, J. Christopher Giancarlo, is becoming a member of our Board of Directors 🎉@giancarloMKTS brings worthwhile abilities and dealing out of complex market dynamics to Paxos as we continue to scale.
Welcome, Chris! https://t.co/g8deOUGauC
— Paxos (@Paxos) May maybe 14, 2024
In step with his appointment, Giancarlo expressed his honor to affix Paxos’s board and contribute to the crypto industry.
“Paxos’s commitment to compliance and dedication to constructing a extra efficient and inclusive financial machine resonates deeply with me,” talked about Giancarlo. “I peek ahead to leveraging my abilities to encourage handbook Paxos because it continues to revolutionize passe finance.”
Giancarlo’s profession entails serving as the thirteenth Chairman of the U.S. Commodity Futures Trading Price (CFTC), the keep he oversaw the regulation of futures, alternatives, and swaps derivatives markets from 2013 to 2017 and as chair from 2017 to 2019.
He is widely regarded as one of essentially the most influential figures in financial regulation and has contributed to the realm discourse on cryptocurrencies and digital sources.
He is additionally the founder of the Digital Buck Project, an initiative to keep a U.S. central bank digital forex (CBDC). For the time being, he serves on the Chamber of Digital Commerce’s advisory board.
Paxos Continues Dedication to Financial Inclusion Amid Regulatory Challenges
Paxos, a registered believe company and issuer of regulated digital sources, including PayPal USD (PYUSD), Pax Buck (USDP), and Pax Gold (PAXG), is one of many leaders of the industry, pushing for digital asset adoption.
On the opposite hand, Paxos has faced regulatory challenges within the previous. Last year, the U.S. Securities and Exchange Price (SEC) issued a Wells mark to Paxos, indicating doubtless enforcement action concerning issuing Binance USD (BUSD) as an unregistered safety.
Additionally, New York’s Division of Financial Companies and products focused the crypto company over the stablecoin, leading Paxos to announce its blueprint to end issuing Binance USD.
Giancarlo’s appointment to the board of Paxos follows his appointment as a Chevalier within the French Nationwide Repeat of Merit in March 2022, recognizing his abilities in financial markets and crypto finance potentials, in step with French Ambassador Phillipe Etienne.
Giancarlo’s abilities spans the public and non-public sectors. He is believed for his entrepreneurial success and advocacy for blockchain know-how.
Source : cryptonews.com
