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Just saw that the CFTC chairman brought in Michael Passalacqua as a senior advisor. This guy's got solid crypto law background - spent time at Simpson Thacher & Bartlett and also did regulatory work at a crypto capital markets firm, so he actually knows the space.
Kind of interesting timing with all the regulatory scrutiny on crypto lately. Michael Passalacqua's appointment suggests they're bringing in someone who understands both the legal side and how crypto markets actually work, not just the enforcement angle.
Wondering if this signals a shift toward more nuanced crypto regulation, or if it's just the usual revolving door between law firms and government agencies. Either way, having Michael Passalacqua in the room probably means fewer tone-deaf policy moves. You guys think this matters for the market?