The Commodity Futures Trading Commission (CFTC) has appointed pro-crypto Scott Lee as its new senior counsel and policy advisor. The move is seen as a significant nod toward the recognition of cryptocurrencies.

Lee, known for his decade-long regulatory experience, is expected to play a pivotal role in enhancing the CFTC’s standing in the rapidly evolving crypto market.

CFTC Appoints Pro-Crypto Advisor

“I’m thrilled to welcome Scott back to the CFTC after his work at the SEC and House Financial Services,” said Commissioner Christy Goldsmith Romero.

The appointment suggests a commitment to a nuanced understanding of crypto in the current market. Indeed, it reflects a dedicated focus on safeguarding retail investors while harnessing financial technology’s benefits.

Scott Lee’s regulatory background extends across the Securites and Exchange Commission (SEC), House Financial Services, and the CFTC. His involvement with cryptocurrencies spans these tenures, showcasing his deep-seated knowledge and understanding of the crypto market.

Lee’s extensive experience with customer protection and financial stability measures signals a forward-thinking and inclusive approach to crypto regulation.

His recent role at the SEC had him working on protecting retail investors. Subsequently contributing to rulemaking and promoting transparency. The time spent at the SEC also involved advising on the impacts of technology reshaping the financial system and working on hearings related to cryptocurrencies.

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Author: Bary Rahma

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