CFTC Names CEO Of Aptos Labs To Its Digital Assets Subcommittee

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As a crypto investor with a background in tech and finance, I’m thrilled to see Mo Shaikh, the CEO of Aptos, being appointed to the Digital Assets Subcommittee of the Commodity Futures Trading Commission (CFTC). This is a significant recognition for Aptos, especially considering that their Layer1 blockchain was only launched last year.

As a crypto investor, I’m excited to share that Mo Shaikh, the co-founder and CEO of Aptos, has been appointed to the Digital Assets Subcommittee of the Commodity Futures Trading Commission (CFTC). This means that Mo will play a significant role in shaping the regulatory landscape for digital assets, providing valuable insights from his industry experience.

The Digital Assets Subcommittee of the Commodity Futures Trading Commission (CFTC) is a segment of a larger committee, comprised of industry professionals, tasked with providing recommendations to the agency regarding the development of rules and regulations.

Aptos CEO Appointed To Digital Assets Subcommittee 

As a crypto investor, I can tell you that the Digital Assets Subcommittee will function under the umbrella of the Global Markets Advisory Committee (GMAC). The GMAC was formed back in 1998 and comprises top-tier financial executives hailing from esteemed institutions such as Citadel, HSBC, Goldman Sachs, and more. Members of this subcommittee hold executive positions at leading financial and tech entities, including Polygon Labs, Uniswap Labs, BNY Mellon, and BlackRock.

As a market analyst, I’d say that the addition of Shaikh to Aptos marks a noteworthy milestone for this emerging blockchain platform. Launched in October 2022, Aptos employs the Move programming language, which was also used in Facebook’s now-defunct Diem project. The expertise and guidance of industry insiders on the Global Markets Advisory Committee and Digital Assets Markets Subcommittee will be invaluable as they collaborate with the Commodity Futures Trading Commission to establish regulations and rulemaking that could significantly impact international trade and business in the blockchain sector.

Established in 1998, the Global Markets Advisory Committee (GMAC) serves as an advisory body to the Commission, providing insights on matters that impact the honesty and profitability of American markets and corporations operating abroad. These issues encompass the regulatory complexities arising from the interconnectedness of global markets and the multinational business landscape. Additionally, the GMAC proposes guidelines for international regulations governing futures, swaps, options, and derivatives markets, as well as intermediaries.

Based on Shaikh’s account, a written application was required from him for the possibility of being added to the advisory group.

A Boost For Aptos 

Previously employed at Meta Platforms, the umbrella company of Facebook, a team including Shaikh and co-founder Avery Ching, had been involved in the development of a project named Aptos. Prior to this, they had contributed significantly to Facebook’s Diem initiative. Regrettably, Diem was terminated in February 2022. In light of these recent developments, Shaikh expressed his satisfaction with Aptos serving as a representative for various projects within the Web3 community.

We not only advocate for L1s but also play a significant role in numerous initiatives within the Web3 domain. Delighted to act as their spokesperson throughout the journey.

Aptos aims to build a blockchain system that can handle transactions much more swiftly than Ethereum, having secured $400 million in investment from prominent venture capitalists, including Andreessen Horowitz and Jump Crypto. In their latest funding round, the startup’s estimated worth reached an impressive $4 billion.

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2024-06-04 15:03