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U.S. CFTC chair: “A sweeping overhaul of digital-asset regulation… America is ready for crypto’s golden age”
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Summary
- The U.S. CFTC said it has formally set out a regulatory paradigm shift for digital-asset markets—from an enforcement-led approach to a tailored framework premised on technological innovation.
- Chairman Michael S. Selig said digital assets, blockchain, and artificial intelligence are reshaping the structure of financial services, and that Congress is nearing passage of the Digital Asset Market Clarity Act.
- Selig said that through the Future-Proof initiative, “minimally effective” regulation, and passage of a digital-asset market-structure bill, the CFTC will help turn a new financial golden age into reality.
The U.S. Commodity Futures Trading Commission (CFTC) has formally signaled a shift in its regulatory paradigm for digital-asset markets. Moving away from an enforcement-led approach, it says it will build a tailored regulatory framework premised on technological innovation.
According to an official CFTC release on the 21st, CFTC Chairman Michael S. Selig said in a statement that “U.S. financial markets are ready to enter a new golden age,” adding that “digital assets, blockchain, and artificial intelligence are changing the very architecture of financial services.” He assessed that, under President Donald Trump’s leadership, Congress is on the verge of passing the Digital Asset Market Clarity Act.
Selig made clear that the CFTC will take on a central role in digital-asset regulation. “From agricultural futures to credit default swaps, the CFTC has regulated markets and has unmatched experience overseeing new financial markets,” he said, adding that it is “ready to design the rules that will support the coming golden age for financial markets.”
On blockchain and AI, he said the technologies are simultaneously improving financial access and efficiency. “With nothing more than a smartphone and the internet, anyone can access blockchain-based financial markets that operate 24/7,” Selig said, adding that “AI enables risk-management tools that even established experts can miss.”
He criticized the prior administration’s regulatory posture in strong terms. “Instead of creating guardrails that promote innovation, the past relied on regulation through enforcement,” he said, arguing that as “outdated rules ill-suited to new products like digital assets were applied, innovative firms left for overseas and the United States lost opportunities.”
Selig said the CFTC will comprehensively overhaul its regulatory framework through its “Future-Proof” initiative. “Arbitrary and opaque regulation cannot create a golden age,” he said, emphasizing that the agency will “ensure innovation takes place in the United States through minimally effective regulation.” He added, “If Congress passes a digital-asset market-structure bill, the CFTC will play a role in making this new golden age in finance a reality.”
