{"id":24484,"date":"2023-07-13T03:32:56","date_gmt":"2023-07-13T03:32:56","guid":{"rendered":"https:\/\/icoinmarket.com\/cftc-adds-highly-pro-crypto-senior-counsel-and-policy-advisor\/"},"modified":"2023-07-13T03:32:56","modified_gmt":"2023-07-13T03:32:56","slug":"cftc-adds-highly-pro-crypto-senior-counsel-and-policy-advisor","status":"publish","type":"post","link":"https:\/\/icoinmarket.com\/cftc-adds-highly-pro-crypto-senior-counsel-and-policy-advisor\/","title":{"rendered":"CFTC Adds Highly Pro-Crypto Senior Counsel and Policy Advisor"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>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.<\/p>\n<p>Lee, known for his decade-long regulatory experience, is expected to play a pivotal role in enhancing the CFTC\u2019s standing in the rapidly evolving crypto market.<\/p>\n<h2 id=\"h-cftc-appoints-pro-crypto-advisor\">CFTC Appoints Pro-Crypto Advisor<\/h2>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cI\u2019m thrilled to welcome Scott back to the CFTC after his work at the SEC and House Financial Services,\u201d said Commissioner Christy Goldsmith Romero. <\/p>\n<\/blockquote>\n<p>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\u2019s benefits.<\/p>\n<p>Scott Lee\u2019s 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. <\/p>\n<p>Lee\u2019s extensive experience with customer protection and financial stability measures signals a forward-thinking and inclusive approach to crypto regulation.<\/p>\n<p>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.<\/p>\n<figure class=\"wp-block-image size-large\"><figcaption class=\"wp-element-caption\">US Investors\u2019 Interest in Crypto. Source: Statista<\/figcaption><\/figure>\n<p>Lee\u2019s return to the CFTC includes a noteworthy stint in the Markets Participants Division. Here, Lee worked directly with digital asset platforms, liaised with foreign regulators, and represented the CFTC at anti-money laundering meetings.<\/p>\n<p>The crypto-savvy senior counsel is a regulator and an active participant in the digital asset space. As revealed in a questionnaire from 2021, Lee uses platforms like Coinbase for online trading and investing in cryptocurrencies. <\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cFor Crypto, Coinbase and Uniswap are 2 of the exchanges I frequently use. [They are] flawless,\u201d said Lee. <\/p>\n<\/blockquote>\n<p>This first-hand experience will likely contribute to his understanding of the real-world implications of regulations and the potential challenges retail investors face.<\/p>\n<p>Lee\u2019s appointment comes at a critical juncture when regulatory bodies grapple with the fast-paced evolution of the crypto market. Therefore, it signifies the CFTC\u2019s strategy to navigate this emerging sector with a pro-crypto outlook.<\/p>\n<div class=\"clear-both p-3 my-5 border rounded-md notice text-4 border-grey-500 font-body dark:border-grey-700\">\n<h3 class=\"mb-3 font-medium leading-none text-blue-700 uppercase dark:text-lime-600 text-4 lg:font-bold lg:text-5\">Disclaimer<\/h3>\n<p>In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.<\/p>\n<\/div><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/beincrypto.com\/cftc-pro-crypto-counsel-policy-advisor\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Commodity Futures Trading Commission (CFTC) has appointed pro-crypto Scott Lee as its new senior&#8230;<\/p>\n","protected":false},"author":1,"featured_media":23987,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CFTC Adds Highly Pro-Crypto Senior Counsel and Policy Advisor - iCoinMarket<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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