CFTC Chairman appoints veteran crypto lawyer Passalacqua as senior advisor

Mars Finance reported on January 21 that Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), announced the appointment of veteran crypto lawyer Michael Passalacqua as a senior advisor to the CFTC. Passalacqua has extensive experience in cryptocurrency and blockchain litigation. He previously co-authored a letter that prompted the U.S. Securities and Exchange Commission (SEC) to issue a no-action letter allowing state-chartered trust companies to act as cryptocurrency custodians. As the CFTC plays an increasingly important role in cryptocurrency regulation, the appointment of a new advisor with extensive experience in the crypto field represents the CFTC's efforts to make its regulatory approach "future-oriented."