CFTC’s Digital Assets Subcommittee Gets New Member From Aptos Labs

Key Points:

• Mo Shaikh, co-founder of Aptos Labs, joins the U.S. CFTC’s Digital Assets Subcommittee.
• The subcommittee includes executives from BlackRock, Polygon Labs, Uniswap Labs, and BNY Mellon.
• Aptos Labs recently partnered with Microsoft and others to develop a DeFi platform that integrates AI and blockchain.

According to DL News, the U.S. Commodities Futures Trading Commission (CFTC) has appointed Mo Shaikh, co-founder and CEO of Aptos Labs, to its Digital Assets Subcommittee.

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Mo Shaikh Joins U.S. CFTC’s Digital Assets Subcommittee

The CFTC’s Digital Assets Subcommittee is a branch of the Global Markets Advisory Committee (GMAC), which advises the CFTC on rulemaking affecting international trade and business. Established in 1998, the GMAC features top financial executives from firms such as Citadel, Goldman Sachs, and HSBC.

Shaikh joins a group of 34 industry representatives on the CFTC’s Digital Assets Subcommittee, including executives from notable companies like BlackRock, Polygon Labs, Uniswap Labs, and BNY Mellon. His inclusion is seen as a further endorsement of Aptos Labs, which he co-founded with Avery Ching. Both previously worked on Facebook’s blockchain project, Diem, which was discontinued in February 2022.

Aptos Labs Partners with Microsoft for AI-Blockchain DeFi Platform

Aptos Labs, founded by former Meta employees, developed the Aptos blockchain, a layer 1 blockchain that launched in October 2022. This blockchain emphasizes low-cost transactions and high throughput, utilizing the Move programming language initially designed for Diem. The company is dedicated to advancing blockchain technology and represents various projects within the Web3 space.

Recently, Aptos Labs announced a significant partnership with Microsoft, Brevan Howard, and South Korean telecommunications company SK Telecom to develop a new decentralized finance (DeFi) platform. This collaboration aims to leverage Microsoft’s infrastructure to integrate artificial intelligence (AI) with blockchain technology. One of their joint initiatives, Aptos Assistant, is a chatbot designed to enhance user experience by merging AI and blockchain functionalities.