Ex-CFTC chair Chris Giancarlo leaves law to advise crypto

Chris Giancarlo, former chair of the U.S. Commodity Futures Trading Commission, announced he is leaving Willkie Farr & Gallagher and retiring from the practice of law to advise cryptocurrency and fintech companies on a full-time basis.

He wrote on social media that he will focus on advising founders and builders, working with CEOs and boards, conducting research and writing on public policy, and continuing nonprofit work. ‘From here on, I’ll devote my time to advising founders & builders of FinTech & Digital Assets and their CEOs and boards, research & writing on public policy issues, and continuing work with non-profit programs,’ he wrote.

Giancarlo joined the CFTC as a commissioner in 2014 and served as chair from August 2017 to July 2018 after a nomination by President Donald Trump. While chair, he oversaw regulatory approvals that led to the launch of the first U.S. bitcoin futures markets and was given the industry nickname ‘Crypto Dad’ for his public support of digital-asset innovation and calls for clearer oversight.

Since leaving government he has advised firms on regulatory strategy, including the Swiss crypto bank Sygnum, and has continued to comment on policy matters. In early March he discussed the lack of progress on some congressional proposals and argued that the CFTC and the Securities and Exchange Commission can still establish rules to provide market clarity. He noted that regulatory uncertainty may make banks hesitant to expand crypto activities and said U.S. financial institutions need to update their systems.

His departure follows other former CFTC officials who moved to roles in the private crypto sector. In December, former acting CFTC chair Caroline Pham left the agency to become chief legal officer at crypto firm MoonPay.

Giancarlo will no longer practice law at Willkie Farr & Gallagher. He plans to continue writing about public policy and to remain active in nonprofit programs related to fintech and digital assets.