- Several crypto executives, including Ripple’s Brad Garlinghouse and Coinbase CEO Brian Armstrong, have been appointed to the CFTC’s new Innovation Advisory Committee.
- The committee has 35 appointees in total drawn from a range of sectors including crypto, online betting, prediction markets, and large TradFi institutions.
- The committee will be tasked with providing guidance to the CFTC around the regulation of emerging technologies such as artificial intelligence and blockchain.
The US derivatives and commodities regulator, the Commodity Futures Trading Commission (CFTC), announced February 12 that several prominent crypto executives — including Ripple CEO Brad Garlinghouse and Coinbase CEO Brian Armstrong — have been appointed to its newly established Innovation Advisory Committee (IAC).
The CFTC said the new committee will guide the regulator’s approach to “cutting edge” innovations, including artificial intelligence (AI) and blockchain, within derivative and commodity markets.
“Today marks an important and energizing moment at the CFTC as the Innovation Advisory Committee takes shape,” CFTC Chairman Michael Selig said.
The IAC’s work will help ensure the CFTC’s decisions reflect market realities so the agency can future-proof its markets and develop clear rules of the road for the Golden Age of American Financial Markets.
Michael Selig, CFTC Chair
The CFTC is set to play a larger role in the regulation of the crypto market if, or when, the crypto market structure bill referred to as the CLARITY Act passes the US Congress.
In addition to crypto executives, the committee features 35 leaders from a broad range of businesses, including betting firms like Draft Kings, prediction markets like Polymarket and Kalshi, venture capital firms like a16z and TradFi institutions like Cboe and Nasdaq.
The complete list of appointees is:
- Hayden Adams, CEO, Uniswap Labs
- Brian Armstrong, CEO, Coinbase
- Andrej Bolkovic, CEO, Options Clearing Corporation
- Thomas Chippas, CEO, Rothera Markets
- Shayne Coplan, CEO, Polymarket
- Professor Harry Crane, Representative
- Chris Dixon, Managing Partner, a16z crypto
- Craig Donohue, CEO, Cboe Global Markets
- Terry Duffy, Chair & CEO, CME Group
- Tom Farley, CEO, Bullish
- Adena Friedman, Chair & CEO, Nasdaq
- Brad Garlinghouse, CEO, Ripple
- Christian Genetski, President, Fan Duel
- Luke Hoersten, CEO, Bitnomial
- Frank La Sella, President & CEO, Depository Trust and Clearing Corporation
- Walt Lukken, CEO, FIA
- Tarek Mansour, CEO, Kalshi
- Kris Marszalek, CEO, Crypto.com
- Nathan McCauley, CEO, Anchorage Digital
- Peter Mintzberg, CEO, Grayscale
- Sergey Nazarov, CEO, Chainlink Labs
- Scott D. O’Malia, CEO, ISDA
- Alana Palmedo, Managing Director, Paradigm
- Vivek Raman, CEO, Etherealize
- Professor Carla Reyes, Representative
- Jason Robins, CEO, Draft Kings
- David Schwimmer, CEO, LSEG
- Arjun Sethi, Co-CEO, Kraken
- Peter Smith, CEO, blockchain.com
- Vance Spencer, Co-founder, Frameworks Ventures
- Jeff Sprecher, CEO, Intercontinental Exchange
- Vlad Tenev, CEO, Robinhood
- Don Wilson, CEO, DRW
- Tyler Winklevoss, CEO, Gemini
- Anatoly Yakovenko, CEO, Solana Labs
Related: Ripple CEO Says $1 Trillion Valuation Is Within Reach
CFTC Boss Selig Says His Appointment Marks Beginning of New Chapter for Regulator
Speaking last month shortly after his swearing in, CFTC Chair Selig said his appointment marks the “beginning of a new chapter for the CFTC.”
“We are witnessing the foundation of modern markets take shape,” the CFTC Chair said. “As this transformation unfolds, the CFTC has an opportunity to build on its historic role as a forward looking regulator.”
These comments refer to Selig’s pro-innovation stance on a number of emerging technologies, including digital assets and AI.
Related: SEC and CFTC Signal United Front on Crypto Oversight as Jurisdiction Lines Take Shape
Specifically discussing crypto, Selig said he’s keen to see the CFTC follow the SEC’s recent lead and adopt a “commonsense crypto asset taxonomy,” in order to clarify that digital commodities, collectibles and tools do not qualify as securities.
Selig said he had already instructed staff at the CFTC to cooperate with SEC staff to “consider joint codification of this framework as an interim measure while Congress finalizes legislation.”
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