Circle Taps Former CFTC Executive
Circle, a cryptocurrency financial services company, has appointed a former executive from the U.S. Commodity Futures Trading Commission (CFTC) and the U.S. Treasury Department as its new Chief Legal Officer.
The new executive, Robert Bench, was previously the CFTC’s Deputy Director of the Division of Market Oversight. He also held positions in the U.S. Treasury Department, including as a Senior Advisor in the Office of Financial Institutions Policy.
Bench’s appointment is a signal that Circle is taking its compliance efforts seriously. His experience in the CFTC and Treasury Department will be invaluable as the company navigates the complex legal and regulatory landscape of the cryptocurrency industry.
In a statement, Circle CEO Jeremy Allaire said, “Rob’s deep experience in financial services regulation and policy, his expertise in the derivatives markets, and his understanding of the intersection of technology and financial services make him an ideal leader of our legal and compliance team.”
The new Chief Legal Officer, Matthew S. Comstock, brings with him more than a decade of experience in the regulatory field, having worked at both the CFTC and the U.S. Treasury Department. He has also held positions at the U.S. Senate and the U.S. House of Representatives.
The appointment of Comstock is part of Circle’s expansion into new markets and its efforts to become a global financial services company. The company is looking to leverage Comstock’s experience in the regulatory field to help it navigate the complex legal and regulatory landscape of the cryptocurrency industry.
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