WASHINGTON, March 24 — The U.S. Commodity Futures Trading Commission on Tuesday announced the formation of an Innovation Task Force to advance what it described as “clear rules of the road” for emerging technologies, including crypto assets and blockchain technologies.
According to CFTC Release No. 9201-26, the initiative is intended to support innovators operating within U.S. derivatives markets as part of the agency’s broader innovation agenda.
Scope includes crypto, AI, and event contracts
The release said the Innovation Task Force will support work on crypto assets and blockchain technologies, artificial intelligence and autonomous systems, and prediction markets and event contracts.
The task force will operate in partnership with the Innovation Advisory Committee as part of the Commission’s broader innovation agenda.
Coordination with SEC and federal agencies
The CFTC said the task force will coordinate with federal agencies and departments, including the U.S. Securities and Exchange Commission and its Crypto Task Force, on innovation-related initiatives.
Leadership and mandate
Michael J. Passalacqua, senior advisor to Chairman Michael S. Selig, will lead the Innovation Task Force.
In a statement, Selig said the initiative is intended to support responsible innovation in U.S. markets.
“By establishing a clear regulatory framework for innovators building on the new frontier of finance, we can foster responsible innovation at home and ensure American market participants are not left on the sidelines,” he said.
