Backpack US Appoints Former SEC Acting Chairman Piwowar to Board on Tuesday

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According to an announcement by Backpack US on Tuesday, the crypto exchange appointed former U.S. Securities and Exchange Commission Acting Chairman Michael S. Piwowar to its board of directors. Piwowar, a former SEC commissioner from 2013 to 2018, briefly served as acting chairman in 2017 during President Donald Trump's first term. The appointment comes as Backpack expands its perpetual futures trading offering in the U.S., following the Commodity Futures Trading Commission's recent approval of regulated bitcoin perpetual futures contracts. Backpack US President Mark Wetjen noted the CFTC's decision reflects how the regulatory landscape has evolved.
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