New CFTC Director is a former Coinbase employee

The latest announcement from the Commodity Futures Trading Commission (CFTC) of the United States (US) reveals a new appointment and the New CFTC Director is a former Coinbase employee.

The former Coinbase Vice President Dorothy D. DeWitt would be serving as Market Oversight’s Director at the CFTC.

The announcement was made by Chairman Health P. Tarbert; he further mentioned about the role of the newly appointed Director. Tarbert further stated that DeWitt would be responsible for CFTF’s oversight over the derivatives platform and the data swap repositories, along with the other latest platform-traded products.

New CFTC Director a former Coinbase employee

Before being a part of the US CFTC, DeWitt has also worked as the general counsel and Vice President at Coinbase, a cryptocurrency exchange. Moreover, DeWitt has served as a portfolio manager and as a partner of Cadogan Management, an asset management company. DeWitt has also held a post at GAM, another asset management organization.

The Chairman on this latest development stated that the team is excited to have Dorothy onboard. As, she would be bringing over twenty years of experience in the legal fields and financial services of the private sector in CFTC.

Her background of investment, legal, risk, and compliance along with her familiarity with digital ledger technology (DLT) including digital assets are going to be valuable assets for CFTC. Furthermore, the agency is looking forward to developing a holistic approach regarding regulations of twenty-first-century commodities.

It is worth noting that this is not the first time that a Coinbase officer joined CFTC. Previously, the organization announced the hiring of Andrew L. Ridenour as the Senior Counsel to Chairman.