U.S. Commodity Futures Trading Commission (CFTC) has appointed Coinbase’s former Vice President, Dorothy D. DeWitt, to serve as the Director of the Division of Market Oversight. Previously, she had led Coinbase as the General Counsel of Business Lines and Markets. After her appointment, DeWitt will work towards CFTC’s oversight over the derivatives platforms and swap data repositories.
DeWitt has a lot of expertise in the financial ecosystem, as she formerly held major positions at Cadogan Management as well as GAM, among other positions.
With this step, the CFTC is gearing up its plan of properly regulating cryptocurrencies. Executives and influencers from the crypto-ecosystem who have a better understanding and knowledge of digital assets are being appointed to take up major roles in the body. Heath Tarbert, CFTC Chairman, revealed the same over his Twitter handle. The tweet read,
“I am pleased to announce Dorothy DeWitt will soon be joining the @CFTC to lead our Division of Market Oversight, an important role that, among other things, supervises derivatives platforms and evaluates new platform-traded products.”
It is important to note that the CFTC has appointed many managers from Coinbase in the past. Previously, the CFTC hired Andrew L. Ridenour as Senior Counsel to the Chairman, with Ridenour joining the regulatory body from Coinbase.