Business

The CFTC commissioner appoints a senior policy adviser with experience in regulating digital assets

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In an announcement Friday, Pham said Keaghan Ames will be her counselor and senior policy advisor at the CFTC beginning May 23. Ames worked at Credit Suisse for more than two years as vice president and head of US regulatory policy, which included advising executives on digital asset regulation. He comes to the CFTC from the Institute of International Bankers, where he has been Director of Government Affairs since July 2021.

Pham was sworn in as commissioner in April and is one of five heads of the CFTC under Chairman Rostin Behnam – all appointed by US President Joe Biden. Pham is the youngest commissioner to join the CFTC after confirming Christy Goldsmith Romero, Summer Mersinger and Kristin Johnson.

During Ames’ time at Credit Suisse, the company’s digital assets arm tested end-to-end fund transactions using blockchain technology and later piloted a settlement system between itself, Paxos and Instinet. In February, the company fell victim to a massive data breach on its account holders, including reportedly sanctioned individuals and heads of state.

Related: CFTC Commissioner Appoints Crypto-Savvy Director of CME Group as Chief Counsel

Together with the Federal Reserve, the Securities and Exchange Commission, the Department of Treasury, and the Financial Crimes Enforcement Network, the CFTC oversees the policies governing the regulation and enforcement of digital assets in the United States. Cointelegraph reported in March that the government agency is targeting a budget of $365 million for the next fiscal year, in part due to the risks associated with digital asset custodians.

Cointelegraph reached out to Keaghan Ames but received no response at the time of publication.

Caroline Pham, who currently serves as commissioner at the United States Commodity Futures Trading Commission (CFTC), has announced that a former head of US regulatory policy at investment bank Credit Suisse Securities will join her staff.