Cryptocurrency

CFTC Appoints Former Credit Suisse VP Keaghan Ames As Its New Senior Policy Advisor

Ames brings with him several years of experience in advising executives on digital asset regulation.

Cryptocurrency

CFTC Appoints Former Credit Suisse VP Keaghan Ames As Its New Senior Policy Advisor

Ames brings with him several years of experience in advising executives on digital asset regulation.

The United States Commodity Futures Trading Commission (CFTC) appointed former VP of Credit Suisse, Keaghan Ames, as its new senior policy advisor. One of Ames’s roles while at Credit Susie was advising executives on digital asset regulation.

The CFTC is an independent agency of the US government that was created to regulate US derivatives markets, which include futures, swaps, options, and more. Ames was selected by CFTC commissioner Caroline Pham on Friday, May 13, to act as a counselor and senior policy adviser. With Ames’s various experiences in digital assets, blockchain, and government affairs for groups like the Institute of International Bankers, it is likely these are the areas he will advise in.

Pham was sworn in on April 14 and is one of five heads that serves at the CFTC under chair Rostin Benham. Every member of the commission has been appointed directly by United States President Joe Biden.

Currently, the CFTC has limited regulatory authority over commodity cash markets, however, it does maintain general anti-fraud and manipulation enforcement authority over virtual currencies. The commission has not yet formally defined virtual currency via regulation.

Ames will be the second addition to this month to the CTFC with experience in digital assets, blockchain technology, and cryptocurrency. Earlier this month, commissioner Pham appointed former CME Group director Bruce Fekrat as chief counsel. Fekrat has experience regulating crypto reference rates and has also helped in the development of financial products like Bitcoin and Ethereum derivatives.

In other news, Elon Musk says his deal to buy Twitter is “temporarily on hold.”

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