- Dorothy D. DeWitt is appointed as a Director of the Division of Market Oversight in CFTC.
- He will be responsible for supervising derivative products, including Bitcoin futures.
Dorothy D. DeWitt, a Vice President and General Counsel for Business Lines and Markets in the US-based cryptocurrency exchange Coinbase, will be responsible for supervision of derivatives platforms and swap data repositories, according to the official press-release.
In her new position, Ms. DeWitt will oversee derivative products and evaluate new platform-traded products, including cryptocurrency-based futures. Notably, her predecessor, Amir Zaidi, worked on previous futures products like the ones at the Chicago Mercantile Exchange or CBOE.
Commenting on the appointment, Chairman Heath P. Tarbert said:
“I am excited Dorothy will soon be joining our team,” said Chairman Tarbert. “She brings to the CFTC more than 20 years of private sector experience in the financial services and legal fields. Her strong investment, risk, legal, and compliance background and familiarity with distributed ledger technology, including crypto assets, will be invaluable as the agency looks to develop a holistic approach to regulating 21st-century commodities.”
Naturally, her experience may be useful when dealing with the upcoming Bitcoin futures to be launched on Bakkt platform later this month.
Apart from Coinbasem Ms. DeWitt served as a senior legal and compliance executive for a broker-dealer and swaps dealer Citadel Securities, and as an attorney at Davis Polk & Wardwell.
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