FTX US has appointed former CFTC Commissioner Mark Wetjen to lead its public affairs efforts as Head of Policy and Regulatory Strategy.
The US-regulated cryptocurrency exchange wants to become the market leading US cryptocurrency exchange by volume over the next two years.
Such ambitious goals are only possible if the company is well oiled and versed in terms of compliance in a time when the regulatory bodies in the United States are still enforcing more than providing clarity, especially the Securities and Exchange Commission.
With Mark Wetjen leading the firm’s communications with U.S. regulatory and legislative bodies, such as the CFTC, SEC and various House and Senate Committees, FTX US will make sure it is regarded as a top exchange operator within the digital asset industry.
Wetjen is a veteran in law, policy making, regulatory strategy and exchange operations, having served as a commissioner and acting chairman of the U.S. Commodity Futures Trading Commision.
The compliance expert is not new to the crypto world, having held the position of CEO at MIAX Futures, where he focused on crypto-derivative products and strategic initiatives.
He was a member of the board of directors of LedgerX, the first licensed crypto-native derivatives exchange in the U.S. which was recently acquired by FTX US and rebranded as FTX US Derivatives.
At FTX US, he will be advising the company on its compliance standards and reporting operations and serve on the board of directors of FTX US Derivatives.
Brett Harrison, President of FTX US, commented on the news, “We’re extremely lucky to bring Mark on board at this pivotal moment for FTX US. We’ve created FTX US Derivatives with the intention of becoming the first US-regulated crypto exchange to provide crypto derivatives trading to our user base, and Mark’s experience and guidance will be instrumental in achieving this goal. We believe it’s incumbent upon industry leaders in this space to maintain transparency and cooperation with lawmakers and regulators, and we look forward to Mark’s stewardship of our regulatory strategy and communications.”
Mark Wetjen, Head of Policy and Regulatory Strategy at FTX US, said: “I am thrilled to join FTX US, which has a strong record of product innovation combined with a healthy respect for following the rules to ensure fair and orderly markets while also protecting the consumer. I look forward to helping FTX US continue expanding its product offerings in that same manner, while also advancing the regulatory conversation of the crypto landscape on behalf of FTX US.”