Altcoin News: CFTC Official Who Led Bitcoin Futures Will Resign

August 9, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Amir Zaidi, Division of Market Oversight director of the US Commodity Futures Trading Commission (CFTC), is leaving the agency, Bloomberg Law reports citing sources familiar with the situation.

According to their information, Zaidi, who is also responsible for ensuring compliance with the rules in the Bitcoin futures markets, will resign “in the coming weeks”. His duties will be temporarily performed by Vincent McGonigle, Deputy Director of Law Enforcement.

Zaidi took up his current position in January 2017 to head the “Critical Division”. It was Zaidi who was responsible for the development of Bitcoin futures trading policies, as well as updating the principles for the implementation of OTC swaps.

In May, when the CFTC released its cryptocurrency product guide, Zaidi said: “As the virtual currency market continues to evolve, CFTC staff will seek to provide additional guidance to help market participants keep pace with innovation while complying with CFTC requirements.”

Recently, the CFTC caused confusion in the market, saying that it did not give permission to launch LedgerX deliverable Bitcoin futures, while the latter shortly before that announced the official start of trading.

Author: Marko Vidrih