Bitcoin Proponent, Amir Zaidi, to Leave US Commodities Futures and Trading Commission (CFTC)

Amir Zaidi, the Bitcoin man in CFTC set to step down from his role with Vincent McGonagle is heavily tipped to replace him.

One of the biggest Bitcoin (BTC) proponent inside the U.S Commodity Futures and Trading Commission (CFTC) will be leaving in the coming weeks according to a report by Bloomberg Law. Amir Zaidi who served as the director of the CFTC’s Division of Market Oversight (DMO) will be leaving the organization after a long trail of Bitcoin battles in the commission.

Amir has worked as a policymaker at the commission for the past two and a half years implementing laws that have promoted the growth of Bitcoin’s ecosystem.

The commissioner and his team drafted the new regulations governing over the counter trades of Bitcoin and creating the trading of Bitcoin (BTC) futures – his most memorable contribution to the crypto industry.

‘CFTC Has Not Approved The Physically Settle Bitcoin Futures’

The CFTC recently offered a warning to investors claiming that they had not approved the LedgerX physically settled Bitcoin futures despite the company confirming the official launch.

The commission is also investigating BitMEX Bitcoin futures and the founder Arthur Hayes on accounts of spawn differences between the inflows and outflows from the company. This has seen millions of dollars leave the trading platform as investigations continue.

More CFTC Replacements Taking Place

On August 2, the commission announced the departure of their first-ever Chief Innovation Officer (CIO) and Director of LabCFTC, Daniel Gorfine. The vibrant CIO had a vision of creating regulations that “facilitate market-enhancing innovation, informing policy and ensure that the CFTC has the regulatory and technological tools.”

Zaidi’s resignation, compounded with Daniel leaving is a big blow to the crypto community, who continue to push for people with an understanding to take places in the commission. However, in July, the commission welcomed former Coinbase employee, Andrew Ridenour, to the commission in the capacity of senior counsel to the Chairman of the commission.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Lujan Odera
Lujan Odera
Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,485FansLike
2,795FollowersFollow
4,267FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

China State-Owned Media Covers Crypto as 2020’s Best Performing Assets Driven by DeFi & Weak Dollar

In an unusual coordinated report on Friday, several Chinese state-owned media covered cryptocurrencies, calling them the best-performing assets of 2020. The country’s top broadcaster, China...

Crypto Exchange Gemini Makes an Aggressive Move, Adds 15 Hot DeFi Tokens

DeFi is all the rage in today's crypto world, and no one wants to be left behind, especially cryptocurrency exchanges. Over the past few months,...

Ethereum ‘Getting Ready for Spadina' Testnet Next Week

The Spadina testnet of ETH 2.0 has been scheduled for genesis before the month ends, on September 29 at 12 pm UTC, as per...

KuCoin Hack: Exchange’s Insurance Fund to Cover User Loss “Completely,” Tether Freezes 33M USDT

The Singapore-based cryptocurrency exchange KuCoin released a statement regarding detecting large withdrawals on September 26, 2020, at 03:05:37 (UTC+8). The exchange has reportedly lost $150...

Crypto Custodian, Anchorage, Adds Support for DeFi Tokens: BAL, NXM, AAVE, UNI, and YFI

Anchorage, the Delaware corporation headquartered in San Francisco, California, and digital asset custodian for institutional investors is diversifying its DeFi token options for its...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today