US CFTC Chair Names Crypto Lawyer as Senior Adviser

US Commodity Futures Trading Commission (CFTC) Chair Michael Selig announced the appointment of Michael Passalacqua, a former associate at Simpson Thacher & Bartlett, as a senior adviser. Selig highlighted Passalacqua's experience in litigating crypto and blockchain cases, including his role in authoring a letter that led the SEC to issue a no-action letter allowing state-chartered trust companies to act as crypto custodians. Passalacqua and Cal Mitchell, a former Treasury Department official, were named as senior advisers as the CFTC prepares for an expanded regulatory role over digital assets, anticipating pending US Senate legislation. Selig is currently the sole commissioner at the agency.

(Source：Cointelegraph)