CFTC to bring on Coinbase exec to lead division responsible for bitcoin futures regulation

The U.S. Commodity Futures Trading Commission (CFTC) has announced it is appointing Dorothy D. DeWitt, General Counsel of Coinbase's Business Lines and Markets, to serve as the agency's Director of the Division of Market Oversight. At CFTC, DeWitt will be responsible for supervising derivatives platforms and evaluating new platform-trade products like bitcoin futures.

“I am excited Dorothy will soon be joining our team,” said CFTC Chairman HeathTarbert. “She brings to the CFTC more than 20 years of private sector experience in the financial services and legal fields.  Her strong investment, risk, legal, and compliance background and familiarity with distributed ledger technology, including crypto assets, will be invaluable as the agency looks to develop a holistic approach to regulating 21st century commodities.”

DeWitt will succeed the CFTC's former Director of the Division of Market Oversight Amir Zaidai, who reportedly left his role in early August.