Aptos Labs CEO, Mo Shaikh, Joins CFTC Digital Asset Subcommittee

Aptos Labs CEO, Mo Shaikh, joins CFTC Digital Asset Subcommittee (Photo; Doc. Decrypt)

JAKARTA - On Monday 3 June, Aptos Labs CEO Mo Shaikh officially joined the digital asset subcommittee from the Commodity Futures Trading Commission (CFTC). This appointment marks an important step in regulation of crypto assets in the United States and has a major influence on the blockchain industry.

The CFTC Digital Asset Market Subcommittee plays a role in formulating regulations related to digital assets. Under the CFTC Global Market Advisory Committee, the subcommittee advises the Commission on issues that affect the integrity and competitiveness of the US market as well as US companies involved in global business.

According to CryptoNews information, Mo Shaikh, who previously led blockchain-based real estate app Meridio, and is a consultant to the World Economic Forum in terms of central bank digital currencies (CBDCs), has extensive experience in the blockchain sector. With Shaikh joining this subcommittee, it is hoped that there will be a new push in formulating more comprehensive and innovative policies related to digital asset regulation.

Meanwhile, the CFTC has attracted increased public interest mainly in terms of digital asset regulation. Last month, the US House of Representatives voted strongly in favor of the ratification of the Law on Innovation and Financial Technology for the 21st Century (FIT21), which gave CFTC greater regulatory authority over cryptocurrencies compared to the US Securities and Exchange Commission (SEC).

With Mo Shaikh joining this subcommittee, it is hoped that there will be a new push in formulating more comprehensive and innovative policies related to digital asset regulation, which will have a significant impact on the development of the crypto industry in the future.