As a crypto investor with a background in technology and finance, I’m thrilled to see the U.S. Commodities and Futures Trading Commission (CFTC) taking steps towards regulating digital assets more effectively. The appointment of Aptos Labs CEO Mo Shaikh to its Digital Assets Markets Subcommittee is a significant move that could help bridge the gap between traditional finance and the crypto industry.
To narrow the divide between the conventional financial sector and the emerging digital asset marketplace, the United States Commodities and Futures Trading Commission (SEC) has made an appointment. The chosen individual is none other than Mo Shaikh, the CEO of Aptos Labs, who will now serve on the SEC’s digital assets subcommittee.
CFTC’s Digital Assets Markets Subcommittee
As a researcher focused on the regulatory landscape of digital assets markets, I’d highlight that the Digital Assets Markets Subcommittee, which falls under the purview of the Global Markets Advisory Committee (GMAC) at the Commodity Futures Trading Commission (CFTC), holds significant influence over the rulemaking process related to international trade and business. The GMAC, founded in 1998, boasts esteemed financial executives from prominent firms such as Citadel, Goldman Sachs, and HSBC among its members.
As a crypto investor, I’m excited to share that I’m part of a 34-strong subcommittee advising the Commodity Futures Trading Commission (CFTC) on digital asset regulation. Companies like BlackRock, Polygon Labs, Uniswap Labs, and BNY Mellon are represented in this esteemed group. By sharing our industry insights, we help guide the CFTC through the intricacies of digital asset governance. I was fortunate enough to secure my spot through a competitive application process, as reported by DL News.
Aptos Represents Web3
The appointment of Shaikh lends more credibility to Aptos, a newly launched Layer 1 blockchain from October 2022. This network was created by ex-employees of Meta Platforms, the parent company of Facebook. Previously, both Shaikh and Avery Ching were part of Facebook’s aborted blockchain project, Diem, which ended in February 2022. Shaikh commented:
As an analyst, I’m proud to mention that our firm not only advocates for L1s (First-Generation Blockchains), but also actively supports numerous initiatives in the Web3 sector. We’re thrilled to serve as a trusted advocate and spokesperson for these projects throughout their developmental journey.
Aptos harnesses the capabilities of Move, the language originally crafted for Diem, to fuel its high-performing blockchain network that outpaces Ethereum in transaction processing. Aptos Labs has secured a substantial investment of $400 million from prestigious venture capital firms, including Andreessen Horowitz and Jump Crypto.
Additionally, starting from the following week, Aptos Labs is scheduled to have a token release event. After their previous token unlock, they will make accessible an extra amount of 11.31 million tokens, estimated to be worth around $103 million, on June 12, 2024.
Based on Token Unlocks’ tokenomics, the blockchain platform intends to release a grand total of 105.63 million tokens into circulation between May 2024 and October 2026. The upcoming token release is scheduled for July 12, 2024, at which point 11.30 million APT tokens will become available.
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2024-06-04 08:25