Amir Zaidi – head of the US Commodity Futures Trading Commission’s (CFTC’s) Division of Market Oversight (DMO) – is believed to be resigning from his position at the department in the coming weeks.

Reported by Bloomberg Law on Aug. 8, numerous incognito sources have provided confirmation for the authenticity of the rumour.

Zaidi has taken the job of a director of the CFTC’s DMO for over 2 years (January 2017). His primary responsibility is reportedly coming up with trading policy for Bitcoin (BTC) futures, together with making changes to the market regulations for over-the-counter swaps.

Another anonymous source further revealed that Vincent McGonagle – previously a director at DMO and currently CFTC deputy director of enforcement – will be temporarily replacing Zaidi as the acting director.

In August 2019,  the physically-settled Bitcoin futures from LedgerX will not be receiving approval from the CFTC. Such news is not in line with LedgerX previous announcement, claiming that its trading platform will be functionally operable.

Also in May, the CFTC claimed to be making efforts to come up with proper regulation for virtual currency derivatives, in an attempt of supporting exchanges and clearing house.

“CFTC staff will seek to provide additional guidance to help market participants keep pace with innovation while complying with CFTC regulations.”