Future

Solana

Chair

April

Former Commodity Futures Trading Commission Chair J. Christopher Giancarlo&nbsp;will join the board of directors at Paxos. 
According to a <a href="https://paxos.com/paxos-adds-j-christopher-giancarlo-to-board-of-directors/" target="_blank" rel="">press release</a> from Paxos, the former head of the <a href="https://crypto.news/tag/CFTC/" target="_blank" rel="">CFTC</a> will join the board of directors of the <a href="https://crypto.news/tag/stablecoin/" target="_blank" rel="">stablecoin</a> issuing company. The firm hired Giancarlo to work among other directors, including former&nbsp;U.S.&nbsp;Senator Bill Bradley. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “Chris brings unparalleled expertise and understanding of complex market dynamics to Paxos […] His insights will support us as we expand our position as a leader in regulated digital asset market structure and stablecoin innovation.” <cite>Charles Cascarilla, CEO and Co-Founder of Paxos</cite>
</blockquote> 
Giancarlo was Chairman of the CFTC from March 2017 to April 2019, overseeing the launch of the first <a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="">Bitcoin</a> futures products. He later published a book on Bitcoin derivatives called “CryptoDad: The Fight for the Future of Money.” 
 You might also like: <a href="https://crypto.news/former-cftc-chair-urges-us-to-develop-privacy-focused-cbdcs/" rel=""> Former CFTC chair urges US to develop privacy-focused CBDCs </a> 
In January 2022, Giancarlo joined the New York fintech company Digital Asset, where he consulted on asset <a href="https://crypto.news/tag/tokenization/" target="_blank" rel="">tokenization</a>, distributed ledger technology, and the potential impact of regulatory changes on the cryptocurrency space. 
Before this, Giancarlo joined the board of directors of the cryptocurrency lending service <a href="https://crypto.news/tag/BlockFi/" target="_blank" rel="">BlockFi</a> and was also a strategic advisor at the investment firm CoinFund. 
Giancarlo’s naming to the company’s board coincides with recent pressure from&nbsp;U.S.&nbsp;regulatory authorities. In February 2023, the&nbsp;U.S.&nbsp;SEC <a href="https://crypto.news/sec-to-pursue-paxos-for-binance-usd-stablecoin-issuance/" target="_blank" rel="">informed</a> Paxos that it planned to sue it for violating investor protection laws. According to the SEC, the Binance USD stablecoin (BUSD) is an unregistered security. As a result, the company had to <a href="https://crypto.news/paxos-to-stop-minting-new-busd-stablecoin/" target="_blank" rel="">suspend</a> production of BUSD. 
 You might also like: <a href="https://crypto.news/paxos-expands-stablecoin-issuance-to-solana/" rel=""> Paxos expands stablecoin issuance to Solana </a>

Former CFTC Chair joins Paxos board of directors

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