According to Cointelegraph, Christopher Giancarlo, the former chairman of the Commodity Futures Trading Commission (CFTC) of the United States, has officially joined the crypto bank Sygnum and will play an important role in its advisory team to help the bank address global regulatory challenges. As institutional investors’ interest in digital assets grows, Giancarlo’s entry is expected to provide key guidance for Sygnum in a complex regulatory environment.
Senior professionals in the regulatory field have joined
Sygnum disclosed on May 27th that it has appointed Christopher Giancarlo as a senior policy advisor, and he will form the advisory committee of Sygnum together with 11 other members. In his new position, Giancarlo will provide professional advice to Sygnum on regulatory matters and strategic partnerships in both the public and private sectors.
Giancarlo served as the chairperson of the CFTC from 2017 to 2019. During his tenure, Bitcoin gradually entered the mainstream financial market, and the first regulated crypto derivatives product was also launched. He has earned the title of “Crypto Dad” for his active advocacy of digital assets, especially his promotion of the development of crypto assets under the regulatory framework of the United States. For instance, at a hearing of the Senate Banking Committee in 2018, he regarded cryptocurrencies as an opportunity rather than a threat, urging Congress to support industry innovation while combating fraud and abuse. After stepping down from public office, Giancarlo has held positions at the law firm of Wilki Fair & Gallagher, the Digital Commerce Chamber, and the non-profit digital dollar project he founded, continuing to influence policy discussions in the cryptocurrency field.
Assist Sygnum in responding to regulation and development
Sygnum, a Swiss crypto bank dedicated to serving institutions and qualified investors, holds banking licenses in both Switzerland and Singapore and is at the forefront of regulated digital asset services. In recent years, even during the long crypto winter of 2021-2023, Sygnum still achieved significant growth. In January this year, the bank completed a financing of 58 million US dollars, with a valuation exceeding 1 billion US dollars, successfully entering the ranks of unicorns. This fund will be used to expand Bitcoin technology, global business and compliance capabilities, and consolidate its leading position in the cryptocurrency and traditional financial markets.
At present, the global regulatory landscape for cryptocurrencies is complex and volatile. The regulatory attitudes and policies towards digital assets vary greatly among different countries and regions, which poses numerous challenges for multinational operating institutions like Sygnum. Giancarlo’s joining will, with his in-depth understanding of financial regulation in the United States and internationally, extensive network of regulatory authorities, and rich experience in the financial market, especially in the derivatives sector, help Sygnum better understand and adapt to regulatory requirements in different regions and formulate compliant business development strategies. He can provide guidance for Sygnum in the constantly evolving regulatory environment of key markets, assist it in establishing strategic partnerships with traditional financial institutions and regulatory authorities, and enhance Sygnum’s operational capabilities and market competitiveness under the global regulatory framework.
For the entire cryptocurrency industry, Giancarlo’s role shift from a regulator to an industry participant also conveys a positive signal. This indicates that traditional finance and the cryptocurrency sector are accelerating their integration. With more professionals with regulatory experience engaging in the crypto industry, it will help promote the establishment of a more sound compliance framework in the industry and facilitate the sustainable development of the cryptocurrency market.
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