U.S. Commodity Futures Trading Commission Chairman Mike Selig unveiled the agency’s fresh innovation committee tasked with leading regulation of emerging technologies such as blockchain and artificial intelligence that are transforming financial markets.
The Innovation Advisory Committee replaces the Technology Advisory Committee and seeks to bring key crypto voices into the CFTC process to shape practical, future-proof market regulation, Selig he said on Monday.
The fresh committee will advise the CFTC on “commercial, economic and practical considerations for emerging products, platforms and business models in financial markets so that it can develop clear rules for the golden age of U.S. financial markets,” Selig said.
“Innovators are using technologies such as artificial intelligence, blockchain and cloud computing to modernize legacy financial systems and build entirely new ones.”
Blockchain is transforming finance by enabling faster, cheaper and more crystal clear trading in markets that can operate 24/7/365, while artificial intelligence more effectively analyzes datasets to, among other things, optimize trading and manage risk.
The CFTC’s latest move follows in the footsteps of the Securities and Exchange Commission in adopting a more technology-friendly approach to regulation to attract innovators.
Industry leaders shape the CFTC’s views
Selig will sponsor the fresh committee and intends to appoint 12 members of the CEO Innovation Council as founding members.
They include top cryptocurrency executives including Gemini CEO Tyler Winklevoss, Polymarket CEO Shayne Coplan, Kalshi CEO Tarek Mansour, Crypto.com CEO Kris Marszalek and Kraken co-CEO Arjun Sethi.
Among established financial firms, executives also on the list include Intercontinental Exchange CEO Jeff Sprecher, Cboe Global Markets CEO Craig Donohue and Nasdaq CEO Adena Friedman.
Selig is also seeking nominations for additional IAC membership, and nominations are open until January 31, 2026.
The CFTC said it will also consider the perspectives of regulators, academia and public interest groups.
The U.S. government and the private sector must share a common goal: A16z
Technology-focused venture capital firm Andreessen Horowitz (a16z) said last Friday that cryptocurrency innovation will be critical to securing America’s future and winning in the next century.
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A16z said uniting the U.S. government with the private sector is critical to defending American interests, warning that failure could cost the country its dominance:
“If America fails to win technologically, it will lose economically, militarily, geopolitically and culturally. It will also lose the entire world.”
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