Former CFTC Chairman J. Christopher Giancarlo will join the board of stablecoin issuer Paxos. Giancarlo served as chairman of the CFTC from 2017 to 2019 and oversaw the launch of the first Bitcoin futures products. 📈 He later published a book on Bitcoin derivatives called "CryptoDad: The Fight for the Future of Money". Giancarlo's appointment coincides with recent pressure from US regulatory authorities. In February 2023, the US SEC reported that Paxos planned to violate investor protection laws. According to the SEC, Binance USD stablecoin (BUSD) is an unregistered security. As a result, the company was forced to suspend BUSD production.