Former CFTC Standard Counsel Daniel Davis Joins Katten Law

Daniel Davis, the Commodity Futures Buying and selling Commission’s (CFTC) standard counsel, is becoming a member of Katten Muchin Rosenman LLP, a legislation agency dependent in Chicago.

Davis, who joined the CFTC in 2017 below previous Chair Chris Giancarlo, headed the agency’s lawful division for four decades, overseeing the regulatory agency’s compliance with the legislation in rulemaking as perfectly as enforcement steps. In 2018, Davis also authored a memo authorizing agency team to devote in cryptocurrencies.

He still left the regulator earlier this month, soon prior to Giancarlo’s successor, Heath Tarbert, also stepped down from his purpose as CFTC chair.

“I imagine crypto carries on to evolve,” Davis told CoinDesk in a telephone contact Monday. “Really broadly talking, what I’m on the lookout to do with my apply is keep on being at the chopping edge of crypto.”

This evolution may perhaps carry on to be unpredictable, he explained. The new presidential administration may possibly also strategy the market in different ways than Donald Trump’s regulators did. Davis will work out of Katten’s Washington, D.C., business office.

“I would maintain an eye on enforcement actions, the sorts of enforcement steps and theories that agencies advance in enforcement actions give some sign of the thinking that is coming from regulators,” he reported. 

There may possibly also be legislative developments in the coming yrs, he reported. Although Congress has not handed a large range of bills participating the crypto sector to date, “there’s been a good deal of speak on the [Capitol] Hill about regardless of whether to regulate” the house. 

Potential legislation is possible at the point out, federal and even at an intercontinental stage, he additional.

At the CFTC, Davis oversaw the improvement of many derivatives solutions outside the house of the crypto place.

In his new part he options to make certain his purchasers are in compliance with rules and that rulemaking from regulatory companies is in compliance with the Administrative Processes Act and other legislation governing how the businesses can produce polices. 

He’s currently challenged rulemaking by the Securities and Exchange Commission (SEC) below the Dodd-Frank Act, he reported.