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CFTC appoints veteran crypto lawyer as senior advisor, signaling a new regulatory stance
【Crypto World】Regulatory circles are making new moves. The Chairman of the U.S. Commodity Futures Trading Commission (CFTC), Michael Selig, recently announced that senior crypto attorney Michael Passalacqua has officially joined the CFTC as a senior advisor.
This lawyer has accumulated extensive experience in blockchain and cryptocurrency litigation—he previously participated in drafting a key letter that directly prompted the U.S. Securities and Exchange Commission (SEC) to issue a no-action letter. The significance of this letter lies in opening the door for state-chartered trust companies to participate in crypto asset custody services.
From a broader perspective, the CFTC’s role in the overall crypto regulatory system is continuously increasing. This appointment of an experienced advisor in the crypto field clearly aims to make regulatory approaches more aligned with industry realities. In other words, the CFTC is actively embracing a “forward-looking” regulatory attitude—this sends positive signals to the crypto industry and institutional investors’ participation.