The Commodity Futures Trading Commission (CFTC) has appointed Harry Jung as the Chief of Staff to Acting Chairman Caroline D. Pham. In this role, Mr. Jung assumes responsibility for advising on critical matters and leading initiatives related to cryptocurrency, decentralized finance (DeFi), and other digital assets. His extensive background in regulatory strategy and policy positions him well to address emerging challenges in these areas. Before joining the CFTC, Mr. Jung held various leadership roles at Citigroup and was involved in significant regulatory engagements concerning digital assets. He brings a wealth of experience from his time at Morgan Stanley and the Financial Industry Regulatory Authority (FINRA). With advanced degrees from Michigan State University College of Law, Georgetown University, and Hamilton College, Mr. Jung is poised to make substantial contributions to the CFTC's mission.
Mr. Jung’s appointment marks a significant step forward for the CFTC in navigating the complex landscape of digital assets. Since joining the CFTC in 2023, he has quickly become an integral part of the organization. As Acting Chairman Pham's top advisor, he plays a pivotal role in shaping policies that impact both traditional and emerging financial markets. One of his key responsibilities involves leading the CFTC’s engagement with crypto and DeFi. This builds upon his previous work as the Designated Federal Officer of the CFTC’s Global Markets Advisory Committee, where he addressed global market trends and challenges. His expertise in regulatory strategy and policy has been instrumental in guiding the CFTC through the rapidly evolving world of digital finance.
Prior to his current position, Mr. Jung held several high-profile roles at Citigroup. He served in the Office of the CEO and the Office of the Chief Administrative Officer (CAO), focusing on capital markets regulation. As the Capital Markets Regulatory Lead, he provided executive management with insights into critical developments and their implications. Additionally, he coordinated firm-wide working groups on emerging issues and participated in global policy forums. His work also included leading regulatory engagements with U.S. prudential and capital markets regulators, particularly regarding digital assets. These experiences have equipped him with a deep understanding of the regulatory environment and its impact on financial institutions.
Before joining Citigroup, Mr. Jung had stints at Morgan Stanley and FINRA, where he led initiatives in Regulatory Liaison and Exam Management within Compliance. His diverse background spans multiple facets of financial regulation, making him uniquely qualified to tackle the challenges faced by the CFTC. His educational credentials further enhance his capabilities; he holds a law degree from Michigan State University College of Law, a master’s degree from Georgetown University, and a bachelor’s degree from Hamilton College. This combination of education and experience positions Mr. Jung as a formidable asset to the CFTC.
With his appointment, the CFTC gains a seasoned professional who can navigate the complexities of digital finance while ensuring robust regulatory oversight. Mr. Jung’s leadership will be crucial in shaping the future of digital asset regulation, providing guidance and support to Acting Chairman Pham. His efforts will undoubtedly contribute to fostering a balanced and innovative financial ecosystem, benefiting both regulators and market participants alike.