Circle Internet Financial, the issuer of the second-largest stablecoin by market capitalization, has employed the services of a former CFTC chief to head the company’s legal team.
Circle has appointed Heath Tarbert as the company’s new Chief Legal Officer and Head of Corporate Affairs. Speaking to Fortune, Tarbert stated that he was a long-time admirer of digital assets, adding that Circle’s USDC is the “most popular regulated stablecoin.”
The lawyer in a statement also praised Circle and its CEO, Jeremy Allaire, and expressed his willingness to work with the company, while calling on policymakers to create clear rules for the digital asset industry.
“I’ve long been intrigued by both Jeremy Allaire’s vision of moving money safely at internet speed and Circle’s tangible accomplishments as a respected, trusted global leader in payments with a regulatory-first approach. I’m thrilled by the opportunity to help Circle’s efforts to evolve the global financial system and encourage policymakers to establish sound rules for digital assets that provide clarity, coherence and protection for people and businesses.”
Statement from Circle’s new Chief Legal Officer, Heath Tarbert
Before Circle, Tarbert was the chief legal officer for Miami-based market maker Citadel Securities. The new Circle lawyer was also the 14th chairman of the US Commodity Futures Trading Commission (CFTC) from 2019 to 2021, succeeding Christopher Giancarlo. Tarbert’s duties at Circle will become effective starting July 1.
Commenting on the appointment, Allaire said that introducing Tarbert’s skills into the company’s executive leadership team is essential to Circle’s global firm goal.
“As we continue building a bridge between traditional finance and web3, Heath’s perspective, legal acumen and global regulatory experience will help us advance the utility value of USDC worldwide.”
Circle CEO Jeremy Allair
The latest development comes shortly after the company’s Singapore division received a Major Payment Institution (MPI) license from the country’s central bank, the Monetary Authority of Singapore (MAS).