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embers

The U.S. CFTC has established a new "Crypto and AI" advisory committee, with several founders of crypto companies and executives from traditional institutions becoming founding members

The chairman of the U.S. Commodity Futures Trading Commission (CFTC), Rostin Behnam, announced the establishment of a new Innovation Advisory Committee on Monday, aimed at providing guidance for the regulation of emerging technologies such as blockchain and artificial intelligence.Behnam stated that the Innovation Advisory Committee will replace the previous Technology Advisory Committee and is dedicated to engaging top opinion leaders from the cryptocurrency industry in the CFTC's regulatory process to develop pragmatic and forward-looking market regulation policies. The new committee will provide advice to the CFTC on aspects such as "the commercial operation, economic benefits, and practical considerations of emerging financial products, platforms, and business models," thereby "establishing clear development rules for a golden era of the U.S. financial markets." Behnam will serve as the initiator of the new committee and plans to nominate 12 CEO Innovation Council members as founding members.The selected members include several leading figures in the cryptocurrency space: Gemini co-founder Tyler Winklevoss, Polymarket founder Shayne Coplan, prediction market platform Kalshi founder Tarek Mansour, Crypto.com CEO Kris Marszalek, and Kraken co-founder Arjun Sethi. Executives from traditional financial institutions are also included: Intercontinental Exchange (ICE) CEO Jeff Sprecher, Cboe Global Markets CEO David Howson, and Nasdaq CEO Adena Friedman.

The U.S. CFTC is restructuring a new innovation committee, with several well-known figures from the cryptocurrency industry as the first members

According to CoinDesk, Mike Selig, the new chairman of the U.S. Commodity Futures Trading Commission (CFTC), issued a statement on Monday announcing that the agency is currently restructuring its advisory panel and reestablishing an innovation committee, which will initially consist of a group of cryptocurrency industry insiders.Former acting chair Caroline Pham quickly assembled a team of CEOs focused on innovative financial technology during her last days in office. Just a month after the announcement of the innovation committee, Selig confirmed the individuals on this list as the "founding members" of the innovation advisory committee. This means that the committee's initial members will include executives from cryptocurrency companies such as Gemini, Kraken, Bitnomial, Crypto.com, and Bullish, as well as executives from traditional firms like Nasdaq, the Chicago Mercantile Exchange, the Intercontinental Exchange, and Cboe Global Markets.The innovation committee will assist regulators in developing these new rules based on the original technical advisory committee. This committee will be one of five such external committees aimed at helping guide the agency's work in members' areas of expertise. The agency is expected to become one of the main cryptocurrency regulators in the U.S. and is currently inviting the public to submit additional member candidates and suggested topics for review by the end of January.
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