- CFTC presides over the regulation of digital assets, derivatives as well as over-the-counter trades.
- “With Dr. Tarbert’s confirmation, I know the agency is in safe hands,” Giancarlo.
The U.S. Senate in its confirmation hearing on Wednesday confirmed that Heath Tarbert is the one to take over the chairmanship of the Commodity Futures Trading Commission (CFTC). The new chair will replace the popular J. Christopher Giancarlo, also known as the “crypto dad.”
The regulator is in charge of regulating digital assets, derivatives as well as over-the-counter trades. The regulator has been dealing with cryptocurrency on a hands off approach especially and under the leadership of the outgoing Giancarlo.
In a statement regarding the succession, Giancarlo said:
“During my time of service, it has been a priority to transform the CFTC into a 21st Century regulator for today’s digital markets. With Dr. Tarbert’s confirmation, I know the agency is in safe hands to continue this transition.”
Tarbert served as the Assistant Secretary for International Markets for a period of two years. He also worked as the Acting Under Secretary for International Affairs for a short period starting April 16, 2019. Tarbert made it through by a landslide vote supported by 87 opposed by only 8. However, he will wait for Giancarlo to complete his term by July 15, 2019.
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