CFTC Commissioner Dan Berkovitz will assume the post of SEC general counsel on November 1. This was announced in a press release.
John Coates, the agency’s current general counsel, will depart the post next month to return to teaching at Harvard University.
Berkovitz announced his departure from the CFTC in early September. Initially, the term of his authority was due to end in late 2023.
Earlier Dan Berkovitz expressed the view that DeFi platforms for trading derivatives may violate the US Commodity Exchange Act.
The official believes that intermediaries play a key role in the current financial system. In his view, they provide critically important services and are responsible for clients’ funds.
Earlier, SEC Chair Gary Gensler said that regulatory frameworks for the crypto industry are necessary. Recently he compared stablecoins to poker chips.
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