Former CFTC Chairman Giancarlo Joins Coinfund As An Advisor


Supply: Cointelegraph

Giancarlo has been an outspoken proponent of cryptocurrencies and CBDCs, arguing for a “no hurt” method to blockchain laws. CoinFund, a blockchain funding startup, has engaged former US commodities regulator J. Christopher Giancarlo as a strategic guide – a transfer that ought to help the Brooklyn-based enterprise in navigating the sophisticated and continually shifting regulatory atmosphere in its native nation.

His Views on Supporting Digital Belongings 

In 2014, Giancarlo was appointed to the Commodity Futures Buying and selling Fee (CFTC). The blockchain group refers to him as “Crypto Dad” as a result of he helps digital belongings. In January 2017, he was appointed interim chair of the company earlier than taking over the post-full-time in August of the identical 12 months.

Giancarlo was hailed as a “driving pressure” of innovation on the CFTC by CoinFund president Christopher Perkins, significantly for lobbying for “considerate crypto coverage in the US.” CoinFund’s founder, Jake Bruckman, mentioned that the previous authorities official would carry expertise at a time when home cryptocurrency laws is evolving quickly.

Giancarlo has been a extra public proponent of digital belongings after leaving the CFTC, serving on the board of administrators of crypto lending startup BlockFi. In June 2021, Giancarlo informed Cointelegraph that and not using a central financial institution digital foreign money, the US risked changing into a “backwater” and that China was the frontrunner in CBDC improvement. Giancarlo mentioned as early as January 2020 that the US wanted a digital greenback to compete with China’s CBDC scheme.

CoinFund has made many investments in cryptocurrency-related companies over the last 12 months. As beforehand reported by Cointelegraph, the blockchain funding enterprise secured a $83 million financing spherical in July 2021 to proceed supporting new blockchain and cryptocurrency startups.  The corporate has led a $50 million Collection A fundraising spherical for digital asset curator Metaversal and also will take part in a $14 million Collection B funding spherical for NFT market Rarible in June 2021.

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