Former Bakkt CEO to Become CFTC Overseer
The former head of the first regulated platform for trading bitcoin futures, Kelly Loeffler has become a member of the Senate Committee, which, among other things, is responsible for the correct operation of the Commission for derivatives trading (CFTC). Also, Loeffler joined the Committee on Agriculture, Nutrition and Forestry. This agency approves CFTC commissioners and appoints chairpersons. Some experts believe that this appointment can cause a conflict of interest:
- firstly, CFTC governs the products provided by the Bakkt platform,
- and secondly, her husband, Jeffrey Sprecher, is the head of the Intercontinental Exchange (ICE), the operator of many large exchanges, including Bakkt.