CFTC Completes Appointments to Crypto Innovation Task Force

Doohyun Hwang

Summary

The U.S. CFTC said it has completed appointments to its Innovation Task Force (ITF) to improve regulatory clarity in the digital-asset market.
The ITF includes blockchain lawyers from major law firms and veteran legal specialists from within the CFTC, and is intended to provide clear guidelines for U.S. innovators.
The CFTC said it has launched an Innovation Tracker to improve regulatory clarity and market transparency in three areas: digital assets and blockchain, artificial intelligence (AI) and autonomous systems, and contracts and prediction markets.

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The U.S. Commodity Futures Trading Commission has completed appointments to its Innovation Task Force, or ITF, aimed at improving regulatory clarity for the digital-asset market.

Cointelegraph reported on July 10 that the CFTC named the initial five members of the task force, which is headed by Michael Pascualaqua, a senior adviser to Acting Chairman Mike Selig. The group includes blockchain lawyers from major law firms including Latham & Watkins and Sidley, a prediction markets adviser, and veteran legal specialists from within the CFTC.

Selig said the agency had assembled a team with deep expertise and commitment to provide clear guidelines for U.S. innovators.

The CFTC also launched an Innovation Tracker that brings together the agency's regulatory work in one place. Through the platform, the regulator plans to sharpen regulatory clarity and market transparency in three core areas: digital assets and blockchain, artificial intelligence and autonomous systems, and contracts and prediction markets.