Former CFTC Chair J. Christopher Giancarlo is joining stablecoin issuer Paxos's board of directors, according to a statement on Tuesday.
Former Commodity Futures Trading Commission Chair J. Christopher Giancarlo is joining stablecoin issuer Paxos 's board of directors, according to a statement released by the company.
Giancarlo will help the firm in its growth, said Paxos CEO Charles Cascarilla in a press release on Tuesday. Paxos issues PayPal USD, Pax Dollar and Pax Gold and is regulated by the New York Department of Financial Services. Last year, regulators probed Paxos' ties to Binance's USD stablecoin and Paxos stopped issuing Binance USD. Giancarlo was chair of the CFTC from March 2017 to April 2019, where he oversaw the launch of the first bitcoin futures products. He later published a book about bitcoin derivatives, "CryptoDad: The Fight for the Future of Money.
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