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U.S. CFTC launches Innovation Task Force…seeking to establish a regulatory framework for digital assets and AI
Summary
- The U.S. CFTC said it has launched an “Innovation Task Force” to overhaul its regulatory framework for emerging technologies such as digital assets and artificial intelligence (AI).
- It said the task force aims to establish a clear regulatory framework for technology-driven financial products, including digital assets, blockchain, prediction markets, and event contracts.
- It said the task force will work with the CFTC’s Innovation Advisory Committee and plans to coordinate with relevant agencies, including the SEC and its digital-asset task force.
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The U.S. Commodity Futures Trading Commission (CFTC) has moved to overhaul its regulatory framework for emerging technologies such as digital assets and artificial intelligence (AI). Market participants say rules governing derivatives markets—including those tied to digital assets—are becoming increasingly defined.
According to a CFTC press release carried by a digital-asset (cryptocurrency) industry outlet on the 24th, CFTC Chairman Michael Selick announced the launch of the “Innovation Task Force.”
The organization aims to establish a clear regulatory framework for technology-driven financial products, including digital assets and blockchain, artificial intelligence and autonomous systems, prediction markets and event contracts.
Chairman Selick said, “By building a clear regulatory environment for companies driving innovation in new areas of finance, we can promote responsible innovation and ensure U.S. market participants do not fall behind.”
The task force will work with the CFTC’s Innovation Advisory Committee to advance policy and plans to coordinate with related bodies, including the U.S. Securities and Exchange Commission (SEC) and its digital-asset task force.
The task force will be led by Senior Adviser to the Chairman Michael Pasalaqua.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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