- The CFTC formed a 35-member Innovation Advisory Committee.
- The goal is to guide future crypto and financial market rules.
- Top crypto leaders from Coinbase, Ripple, Uniswap, Robinhood, Chainlink, and Solana have joined.
The US Commodity Futures Trading Commission (CFTC) has finalized the first members of its Innovation Advisory Committee (IAC), a new body created to guide financial market regulation, including crypto oversight. The agency announced the appointments on Feb. 12.
The 35-member committee includes major crypto executives such as Coinbase CEO Brian Armstrong, Ripple CEO Brad Garlinghouse, Uniswap Labs CEO Hayden Adams, Robinhood CEO Vlad Tenev, Chainlink Labs CEO Sergey Nazarov, and Solana Labs CEO Anatoly Yakovenko.
Leaders from Crypto.com, Gemini, Kraken, Anchorage Digital, Grayscale, and Blockchain.com are also part of the panel.
The committee also brings in traditional finance leaders which include executives from Nasdaq, CME Group, Cboe Global Markets, Intercontinental Exchange, and the Depository Trust and Clearing Corporation.
Representatives from venture firms, prediction markets, academia, and trading infrastructure companies are also included.
CFTC Chairman Michael S. Selig said the group will help the agency build clear rules for future financial markets. The committee will act as a direct advisory body to the regulator.
Related: CFTC Revises Rules to Let National Trust Bank Issue Stablecoins
Rules for AI, Blockchain, and New Markets
The Innovation Advisory Committee replaces the agency’s former Technology Advisory Committee. The CFTC launched the new body on Jan. 12 to gather advice on financial innovation and market structure.
The committee’s main role is to study how new technologies affect derivatives and commodity markets. This includes artificial intelligence, blockchain, cloud systems, and new trading platforms.
The group will provide recommendations on how these technologies are used by financial firms and market participants. The advisory body will also guide the CFTC on investment in regulatory technology, surveillance tools, and enforcement systems.
Its work aims to help the agency monitor markets more effectively and maintain market integrity as financial products evolve.
The committee draws members from across the industry to balance views from financial firms, technology providers, academics, public interest groups, and market infrastructure companies.
Its recommendations will help the CFTC develop fit-for-purpose market rules.
Crypto Regulation Push Gains Momentum
The CFTC has taken steps in recent months to clarify its role in crypto oversight and define jurisdiction alongside the Securities and Exchange Commission (SEC).
Last month, the CFTC and SEC held discussions on how regulatory responsibilities will be divided. The agencies also launched “Project Crypto” to improve digital asset regulation and signed a memorandum of understanding to strengthen coordination.
The CFTC has also withdrawn earlier digital asset guidance issued in previous years. The agency said older directives no longer reflect how crypto markets operate today.
Related : Former CFTC Chair Says XRP Became Symbol of Warren–Gensler Crypto Crackdown
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Source: https://coinedition.com/cftc-names-crypto-and-finance-leaders-to-new-innovation-advisory-committee/
