Circle Ropes In Former CFTC Chair To Push For Regulatory Clarity On Crypto

The firm behind USDC stablecoin, Circle Internet Financial, has hired the former CFTC chair Heath Tarbert as the chief legal officer and head of corporate affairs. Along with CFTC, Tarbert served various positions across all branches of the federal government and key regulatory agencies.

Tarbert’s experience to benefit Circle

Heath Tarbert has served as the 14th chairman and chief executive of the CFTC and vice chairman of the International Organization of Securities Commissions. He was previously assistant secretary of the U.S. Treasury for international markets, concurrently serving as G-7/G-20 deputy finance minister, a member of the Financial Stability Board, and U.S. executive director of the World Bank Group. During his early career, Tarbert served as a Supreme Court law clerk, associate White House counsel and special counsel to the U.S. Senate Committee on Banking, Housing and Urban Affairs.

Tarbert was also the chief legal officer at Citadel Securities.

Pivotal time for our company, and the broader industry: Circle CEO

Welcoming Tarbert onboard, Circle CEO Jeremy Allaire said,

“it’s a pivotal time for our company, and the broader industry, and a critical part of the path forward is building durable relationships with governments around the world as we look to bring the power of blockchain-native money and payments everywhere.”

Allaire added that Heath’s perspective, legal acumen and global regulatory experience will help us advance the utility value of USDC worldwide as they build a bridge between traditional finance and Web3.

On joining Circle, Heath said that he would help Circle’s efforts to evolve the global financial system and encourage policymakers to establish sound rules for digital assets that provide clarity, coherence and protection for people and businesses.

The latest hiring comes amid the ongoing battle of the crypto industry with the US SEC. With the latest lawsuits against the world’s top crypto exchanges Binance and Coinbase, it appears that the US SEC has come for the kill. The future of the crypto industry in the United States hangs in the balance. 

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