X

New CFTC Task Force to Oversee Emerging Technologies

"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[.]"
Michael Selig, CFTC Chair
"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[.]"
Michael Selig, CFTC Chair

The CFTC established an Innovation Task Force dedicated to establishing "clear rules of the road" for American innovators building novel products and technologies within the U.S. derivatives markets.

According to the CFTC's announcement, the task force will work in partnership with the Commission's Innovation Advisory Committee to develop a "clear regulatory framework" for emerging sectors. The CFTC stated that the task force will focus its efforts on "(i) crypto assets and blockchain technologies; (ii) artificial intelligence and autonomous systems; and (iii) prediction markets and event contracts." The task force is charged with executing the Commission’s broader innovation agenda while coordinating with other federal agencies and departments, including the SEC and its Crypto Task Force.

 

Primary Sources

  1. CFTC: Press Release: Chairman Selig Announces Formation of New Innovation Task Force

Tags

Regulated Activities
Fintech Regulatory Oversight
Sub-Activity
AI / Machine Learning
Regulated Entities
Markets
Regulated Products
Digital Assets
Body of Law
CEA Regulation
Jurisdiction
US - Federal
Organization
CFTC, NFA, CFTC Markets
Sub-Author
CFTC