Blockchain, AI innovation that regulates CFTC forms
US Commodity Futures Trading Commission Chairman Mike Selig announced the agency's new Innovation Committee, which is looking at emerging technologies like blockchain and AI that are transforming financial markets.
The Innovation Advisory Committee, replacing the Technology Advisory Committee, is looking to bring senior crypto voices into the CFTC process to shape practical and forward-looking market rules, Selig said on Monday.
The new committee will “advise the CFTC on the commercial, economic and practical aspects of emerging products, platforms and business models in the financial markets so that it can set clear rules on the road to the golden age of the American financial market,” Selig said.
“Innovators are using technologies like artificial intelligence, blockchain and cloud computing to modernize old financial systems and build entirely new ones.”
Blockchain is revolutionizing finance by enabling fast, cheap and transparent transactions in markets 24/7/365, while AI efficiently analyzes data sets to improve trading and risk management.
The CFTC's latest move follows in the footsteps of the Securities and Exchange Commission in pursuing more technology-friendly regulation to attract innovators.
Industry leaders to shape CFTC views
Selig will sponsor the new committee and intends to appoint the 12 CEO Innovation Council participants as charter members.
Among them are top crypto executives including Gemini CEO Tyler Winklevoss, Polymarket CEO Shane Coplan, Kalshi CEO Tarek Mansour, Crypto.com CEO Chris Marszalek and Kraken CEO Arjun Sethi.
Executives from traditional financial firms, including Intercontinental Exchange CEO Jeff Sprecher, Cboe Global Markets CEO Craig Donohue, and Nasdaq CEO Adena Friedman are part of the list.
Selig seeks nominations for additional IAC membership, applications open until January 31, 2026.
The CFTC also said it will consider the views of regulators, academics and public interest groups.
US government, private sector must share common goal: A16z
Tech-focused venture capital firm Andreessen Horowitz (a16z) said last Friday that crypto innovation is critical to securing America's future and winning the next century.
Related: Crypto holding company BitGo seeks up to $201 million in US IPO
A16z said that alignment between the US government and the private sector is critical to protecting American interests, and warned that a failure could undermine the country's dominance.
“If America can't win technologically, it will lose economically, militarily, geopolitically, and culturally. And so will the rest of the world.”
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