Circle Appoints Former CFTC Chair as New Chief Legal Officer
Heath Tarbert, the ex-chairman of the United States Commodities Futures Trading Commission (CFTC), has been roped in by Circle, the company behind the USDC stablecoin, as its chief legal officer, as disclosed on Thursday.
Tarbert steps into this role following an 18-month stint with the CFTC and after serving as the top legal official at market-making firm Citadel Securities. He takes over from Flavia Naves, who parted ways with Circle earlier this year.
Jeremy Allaire, Circle's co-founder and CEO, warmly welcomed Tarbert to the team, hailing his expertise, leadership and global regulatory experience as pivotal for Circle's growth and ambition to bridge traditional finance with the emerging Web3 sector. Allaire is confident that Tarbert's legal acumen will play a crucial role in promoting the utility value of USDC worldwide.
This appointment comes at a time when Circle is intensifying its policy lobbying efforts in Washington to garner support for its technology among lawmakers. Allaire's recent appearance on the Forbes cover, alongside the caption "please regulate us," exemplifies Circle's proactive stance on regulation.
Tarbert is stepping in at a challenging juncture for the crypto sector. The U.S. regulatory environment has become increasingly stringent following the FTX crypto exchange's crisis. This week also saw the Securities and Exchange Commission taking legal action against Binance and Coinbase, the latter being a collaborator with Circle for the launch of USDC in 2018.
Jeremy Allaire, Circle's co-founder and CEO, warmly welcomed Tarbert to the team, hailing his expertise, leadership and global regulatory experience as pivotal for Circle's growth and ambition to bridge traditional finance with the emerging Web3 sector. Allaire is confident that Tarbert's legal acumen will play a crucial role in promoting the utility value of USDC worldwide.
This appointment comes at a time when Circle is intensifying its policy lobbying efforts in Washington to garner support for its technology among lawmakers. Allaire's recent appearance on the Forbes cover, alongside the caption "please regulate us," exemplifies Circle's proactive stance on regulation.
Tarbert is stepping in at a challenging juncture for the crypto sector. The U.S. regulatory environment has become increasingly stringent following the FTX crypto exchange's crisis. This week also saw the Securities and Exchange Commission taking legal action against Binance and Coinbase, the latter being a collaborator with Circle for the launch of USDC in 2018.
