Circle, Crypto Company, Appoints Tarbert, Former CFTC Head, as Chief Legal Officer

Circle Internet Financial, a cryptocurrency operator, announced on Thursday that it has appointed Heath Tarbert, the former chair of the Commodity Futures Trading Commission (CFTC), as its chief legal officer and head of corporate affairs. Tarbert's appointment will be effective from July 1.

The hiring of Tarbert by Circle comes at a time when cryptocurrency firms are facing heightened regulatory scrutiny in the United States. There is also uncertainty regarding whether the CFTC or the Securities and Exchange Commission (SEC) will emerge as the primary regulatory authority for the industry.

Tarbert, who served as the head of the CFTC from July 2019 to January 2021, brings a wealth of experience to his new role. Prior to his time at the CFTC, he worked as a corporate attorney and held a senior position at the Treasury Department. More recently, Tarbert was employed by Citadel Securities, an electronic trading firm.

Circle, headquartered in Boston, is the issuer of the stablecoin USDC. In December, the company made the decision to terminate a $9 billion merger agreement with Concord Acquisition Corp, a blank-check firm.

Jeremy Allaire, the CEO of Circle, expressed his confidence in Tarbert's appointment, stating that his perspective, legal expertise, and extensive global regulatory experience will contribute to advancing the utility and value of USDC on a global scale.