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White House to Release Executive Order on Crypto as Early as February

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Ronald Reagan “Most Terrifying Words – ‘I’m from the government and I’m here to help.’”

the staff of the Ridgewood blog

Washington DC, more bad news ,the White House is preparing to release an executive order as early as next month that will outline a comprehensive government strategy on cryptocurrencies. Many agencies have issued guidance letters, informal statements, and public rules regarding crypto laws, but these efforts have not yet been coordinated into a single document. Senior officials have met multiple times to discuss the directive and federal agencies have been studying or providing regulatory guidance around digital assets for years.

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New Jersey Native Nominated to take the Helm of the Commodity Futures Trading Commission

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March 16,2017

the staff of the Ridgewood blog

Washington DC, President Donald Trump this week nominated New Jersey native J. Christopher Giancarlo to serve as chairman of the Commodity Futures Trading Commission .The commission regulates the derivatives market, a part of Wall Street that has been criticized for helping spur the financial crisis of 2008.

Giancarlo, who grew up in north Jersey and lives in Haworth in Bergen County, has served as a commissioner on the board since 2014 an acting commissioner since January.

Giancarlo was born in Jersey City, New Jersey. He attended Skidmore College in Saratoga Springs, New York where he graduated Phi Beta Kappa with Government Department Honors.  Mr. Giancarlo received his law degree from the Vanderbilt University School of Law where he was an associate research editor at the Vanderbilt Journal of Transnational Law and President of the Law School’s International Law Society. Mr. Giancarlo has been a member of the Bar of the State of New York since 1985

He was nominated by President Obama on August 1, 2013 and confirmed by unanimous consent of the U.S. Senate on June 3, 2014.  On June 16, 2014, he was sworn in as a CFTC Commissioner for a term expiring in April 2019.  Mr. Giancarlo was designated per seriatim as Acting Chairman of the Commission on January 20, 2017.

Before entering public service, Mr. Giancarlo served as the Executive Vice President of GFI Group Inc., a financial services firm. Prior to joining GFI, Mr. Giancarlo was Executive Vice President and U.S. Legal Counsel of Fenics Software and was a corporate partner in the New York law firm of Brown Raysman Millstein Felder & Steiner. Mr. Giancarlo joined Brown Raysman from Giancarlo & Gleiberman, a law practice founded by Mr. Giancarlo in 1992 following his return from several years in London with the international law firm of Curtis, Mallet-Prevost, Colt & Mosle.

Mr. Giancarlo was also a founding Co-Editor-in-Chief of eSecurities, Trading and Regulation on the Internet (Leader Publications).  In addition, Mr. Giancarlo has testified three times before Congress regarding the implementation of the Dodd-Frank Act, and has written and spoken extensively on public policy, legal and other matters involving technology and the financial markets.

Fresh on the heels of being nominated by the White House Tuesday to be Chairman of the US Commodity Futures Trading Commission, J. Christopher Giancarlo spelled out plans to reorganize the agency and “right-size” its regulatory footprint.

“The overly prescriptive regulation of American derivative markets is a part and parcel of the over-regulation of the US economy that thwarts revival of American prosperity,” he said in a speech prepared for delivery at the International Futures Industry conference in Boca Raton, Florida, Wednesday.

To carry out one of President Donald Trump’s executive orders of regulatory reform, Giancarlo announced the launch of an agency-wide review of CFTC regulations and practices “to make them simpler, less burdensome and less costly,” and said the CFTC will seek public comment on that effort.

The regulatory reform initiative, dubbed Project KISS for “Keep It Simple Stupid” will be led by Mike Gill, Giancarlo’s chief of staff, who will serve as the “regulatory reform officer.”

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Garrett Congratulates Haworth Resident Giancarlo for Taking Top-Spot at the CFTC

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Rep. Garrett (right) congratulates Haworth resident Chris Giancarlo for being sworn-in as the Commissioner of the U.S. Commodity Futures Trading Commission (CFTC).

Garrett Congratulates Haworth Resident Giancarlo for Taking Top-Spot at the CFTC
Jun 25, 2014

Washington, D.C. – Rep. Scott Garrett (NJ-05) congratulated Haworth resident Chris Giancarlo for being sworn-in as the Commissioner of the U.S. Commodity Futures Trading Commission (CFTC) at a ceremony in Washington, D.C. yesterday morning.

“Chris has a long history of promoting sound regulatory policy, free markets and economic liberty,” said Garrett at the ceremony. “I know he will bring a steady hand, common sense, and strong leadership to the Commission. His deep understanding of our derivatives markets make him an ideal choice for serving at the Commission as it continues to implement difficult and complex rules that will have a significant impact on farmers, ranchers, and producers.  Very few people know these markets as well as Chris, and his expertise will come in handy as the Commission faces markets that continue to shift and evolve.”

Giancarlo was sworn in as a CFTC Commissioner on June 16, 2014 for a term expiring on April 13, 2019.  Giancarlo was nominated by President Obama on August 1, 2013.  On March 6, 2014, Giancarlo testified regarding his nomination before the U.S. Senate Committee on Agriculture, Nutrition and Forestry, which approved the nomination on April 8, 2014.  The U.S. Senate confirmed his nomination by unanimous consent on June 3, 2014.

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