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Mo Shaikh

Aptos Labs CEO Mo Shaikh appointed to CFTC’s digital assets subcommittee

The Commodities Futures Trading Commission (CFTC) has appointed Mo Shaikh, co-founder and CEO of Aptos Labs, to its Digital Assets Subcommittee.

This subcommittee is part of the Global Markets Advisory Committee (GMAC), which was established in 1998 and includes top financial executives from firms such as Citadel, Goldman Sachs, and HSBC. The GMAC and its subcommittees provide the CFTC with industry insights and advice on regulations affecting international trade and business.

Other members of the 34-person Digital Assets Markets Subcommittee include executives from BlackRock, Polygon Labs, Uniswap Labs, and BNY Mellon. Shaikh disclosed to DL News that he had to submit a written application to be considered for this advisory role.

Shaikh’s inclusion in the subcommittee enhances the credibility of Aptos, a layer 1 blockchain network that launched in October 2022.

Aptos was created by former employees of Meta Platforms, the parent company of Facebook. Shaikh and co-founder Avery Ching previously worked on Facebook’s blockchain project, Diem, which was discontinued in February 2022.

Aptos utilizes Move, the programming language initially developed for Diem, to operate a blockchain network designed to process transactions faster than Ethereum. Aptos Labs has secured $400 million in funding from prominent venture capital firms, such as Andreessen Horowitz and Jump Crypto, as reported by Messari and TechCrunch.

Source: DLNews

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