Regulatory Advisory Firm for Blockchain Business Launched By Former CFTC Lawyer

Announcements, Blockchain, News | February 22, 2019 By:

Kevin Batteh, a former US Commodity Futures Trading Commission (CFTC) lawyer, has announced the establishment of a regulatory strategy firm specifically focused on advising blockchain companies.

Batteh joined the CFTC in 2003 and served as chief trial attorney in the US Dollar LIBOR manipulation cases that resulted in billion dollar settlements. He also held senior roles with the UK Financial Conduct Authority and the US Senate. For the past seven years, Batteh has focused on the intersection of financial regulation and blockchain, advising blockchain companies, as well as digital asset trading platforms, regulated exchanges, miners, blockchain infrastructure providers, and mainstream companies that wish to leverage the technology. His clients include Bittrex, Upbit and Bloq.

The new regulatory advisory firm, called Jenga Advisors, was established through a strategic partnership between Batteh and blockchain advisory firm Jenga Business Consulting Group of Singapore (Jenga BCG). The new firm will advise blockchain companies with respect to regulatory compliant token projects and secondary market listings on global trading platforms.

Batteh said that in order to be a successful, decentralized application, the underlying token that drives the application must be widely distributed, adding that the best way to achieve wide distribution is through a listing on a trading platform.

“Trading platforms provide a way for participants in a decentralized application to obtain or sell the underlying utility token of the application,” Batteh said. “This in turn allows the application to achieve broader use and beneficial network effect.”

Bill Shihara, CEO of Bittrex, said that his company has relied on Batteh’s global regulatory experience for several years. Shihara claims that Batteh is an advocate that will enable blockchain clients to securely and efficiently navigate the current regulatory complexities, as well as the demands of responsible digital asset trading platforms who insist on working with compliant partners.

“Kevin has been a trusted partner and advisor to several of our projects from the beginning and we are excited to see the launch of Jenga Advisors,” said Matthew Roszak, chairman of Bloq. “Given his deep experience in navigating regulation both as an advisor to entities that must navigate regulation and as a regulator himself, we know that he will be a valuable partner to other token teams.”