Former SEC Acting Chairman Michael Piwowar joins Backpack US Board of Directors Odaily Planet Daily News: Backpack announced that Dr. Michael S. Piwowar, former member and acting chairman of the US Securities and Exchange Commission (SEC), has joined the Backpack US board of directors. Public information shows that Piwowar served as a commissioner of the SEC from 2013 to 2018 and was appointed by Trump as acting chairman of the SEC, making him one of the earliest high-level regulators in the United States to participate in discussions on digital assets and ICO regulation. Before joining the SEC, he served as the Chief Economist of the United States Senate Banking Committee, participating in the development of SEC related provisions in the Dodd Frank Act and the JOBS Act. Backpack stated that this appointment coincides with the approval of the first regulated Bitcoin perpetual contract by the US Commodity Futures Trading Commission (CFTC). The company has previously provided regulated perpetual contract trading services in the European Union and has the ability to implement the same product line under the new framework in the United States. And former CFTC Acting Chairman Mark Wetjen will serve as the President of Backpack US, while also participating in the DTCC tokenization working group to continue promoting compliance layout in the US market.