J. Christopher “Chris” Giancarlo is a U.S. lawyer and former chairman of the Commodity Futures Trading Commission (CFTC). He served as a CFTC commissioner from 2014 to 2019, became acting chair in January 2017, and was later confirmed by the Senate as chair.
CFTC career
Before joining the CFTC, Giancarlo worked in financial services and law, including as an executive at GFI Group. His CFTC service began in June 2014. He became acting chairman on January 20, 2017, and the Senate confirmed him as chairman that August. His chairmanship ended in July 2019. “Crypto Dad” is an informal nickname used for him; it is not an official title or a description of the CFTC’s legal authority.
What happened with Bitcoin futures in 2017
In December 2017, CME and Cboe’s futures exchange self-certified Bitcoin futures contracts. The CFTC discussed the contracts with the exchanges and described its oversight of the underlying cash Bitcoin market as limited. Giancarlo was chairman at the time and publicly discussed the process, but the exchanges self-certified and listed the contracts; the CFTC did not itself launch a Bitcoin exchange or approve the spot price of Bitcoin.
Digital Dollar Project
After leaving the CFTC, Giancarlo co-founded the Digital Dollar Project, an independent initiative that studies possible designs and policy questions for a U.S. central bank digital currency. The project is not the Federal Reserve and its publications do not mean the U.S. government has decided to issue a retail digital dollar. Giancarlo’s current professional biography lists him as senior counsel to Willkie Farr & Gallagher and as a co-founder of the project.
Related Terms
See Also
- How the 2024 Bitcoin ETF Changed Crypto: Institutional Adoption, Inflows, and the Market Shift
- Does the US Strategic Bitcoin Reserve Actually Change Anything?
- Bitcoin as Collateral: Bank Loans, Mortgages, and DeFi Explained
- Exchange crypto with ChangeNOW
Sources
- CFTC — J. Christopher Giancarlo biography — The CFTC records Giancarlo’s commissioner service, acting-chair designation, Senate confirmation, professional background, and chairmanship.
- CFTC — Statement on self-certification of Bitcoin products — The December 2017 statement identifies CME and CFE as the exchanges that self-certified Bitcoin futures and explains the CFTC’s role and limits.
- Digital Dollar Project — People — The project identifies Giancarlo’s role and describes the initiative as an independent effort around future U.S. dollar policy.