Former U.S. Commodity Futures Trading Commission (CFTC) Chairman Christopher Giancarlo has joined Swiss crypto bank Sygnum as a senior policy advisor. He will assist the crypto bank in navigating global regulatory challenges amid the growing interest in digital assets from institutional investors worldwide.
Sygnum disclosed on May 27 that Giancarlo's appointment makes him one of the 12 members of Sygnum's advisory board. In this role, Giancarlo will provide advice on regulatory and strategic partnerships in both the public and private sectors.
Sygnum is a Swiss banking group dedicated to providing crypto asset services, often referred to as the first digital asset bank. The company recently achieved unicorn status after completing a $58 million funding round.
Giancarlo led the CFTC from 2017 to 2019 and stated that joining Sygnum comes at a pivotal moment for the global digital asset industry as it approaches institutional adoption.
Giancarlo has been dubbed "Crypto Dad" for his advocacy of digital assets, particularly in the U.S. In 2023, he stated that Washington, D.C. needs a complete political shift to enact legislation favorable to the industry.
This shift seems to have materialized after Donald Trump won the presidential election last November.
However, shortly after the election, Giancarlo dismissed rumors that he would replace outgoing U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler. He also denied reports about his interest in a crypto-related position at the U.S. Treasury.
Over the past year, supportive cryptocurrency policies, the successful launch of Bitcoin exchange-traded funds (ETFs), and advancements in tokenization and stablecoins have attracted the attention of institutional investors.
In the U.S., Bitcoin ETFs are on track for a record month, having attracted $1.5 billion in inflows in just two days.
On the regulatory front, the Senate passed the Guidance and Establishment of a National Stablecoin Innovation Act (GENIUS Act). According to DWF Labs Managing Partner Andrei Grachev, if the bill becomes law, it could further accelerate institutional adoption.
Meanwhile, according to a recent report from Fidelity Digital Assets, Bitcoin's surge to an all-time high has created a positive feedback loop, with more institutions viewing BTC as a mature asset worth including in modern portfolios.
In regions where Sygnum is active, such as Singapore and the United Arab Emirates, cryptocurrencies are also showing positive growth. However, Sygnum's CEO Matthias Imbach recently warned that if Switzerland, where the company is based, cannot continue to innovate, it may lose its competitive edge as a crypto destination.
Related: Bitcoin (BTC) buyers dominate at $111,000, suggesting a "new wave" of upward movement
Original article: “Former CFTC Chairman Christopher Giancarlo Joins Crypto Bank Sygnum”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
