Former SEC Acting Chairman Michael Piwowar Joins Backpack US Board of Directors

Odaily Odaily Planet Daily News Backpack announced that former U.S. Securities and Exchange Commission (SEC) Commissioner and Acting Chairman Dr. Michael S. Piwowar has joined the Board of Directors of Backpack US.

Public information shows that Piwowar served as an SEC Commissioner from 2013 to 2018 and was appointed Acting Chairman of the SEC by President Trump. He was one of the earliest top U.S. regulators to participate in discussions on digital assets and ICO regulation. Prior to joining the SEC, he served as Chief Economist of the U.S. Senate Banking Committee, contributing to the formulation of SEC-related provisions in the Dodd-Frank Act and the JOBS Act.

Backpack stated that this appointment comes as the U.S. Commodity Futures Trading Commission (CFTC) approves the first regulated Bitcoin perpetual contract. The company has previously provided regulated perpetual contract trading services in the European Union and possesses the capability to launch the same product line under the new U.S. framework. Additionally, former CFTC Acting Chairman Mark Wetjen serves as President of Backpack US, while also participating in the DTCC Tokenization Working Group, continuously advancing compliance layout in the U.S. market.