CFTC's new chairman forms Cryptocurrency Innovation Committee, with executives from Gemini, Kraken, and other exchanges selected

【Chain News】The newly appointed Chair of the U.S. Commodity Futures Trading Commission(CFTC), Mike Selig, has recently made significant moves. He announced a restructuring of the agency’s advisory panels, with the highlight being the formation of an Innovation Committee. This committee is quite special — its initial core members are directly frontline figures from the cryptocurrency industry.

Speaking of which, the previous Acting Chair Caroline Pham, in her final days before stepping down, quickly assembled an innovation team led by CEOs, focusing on financial technology. As a result, just one month after Selig took office, the personnel on that list were directly established as the “Founding Members” of the Innovation Advisory Committee.

What does this mean? Executives from crypto exchanges like Gemini, Kraken, Bitnomial, Crypto.com, and Bullish will join; representatives from traditional finance giants such as Nasdaq, CME Group, Intercontinental Exchange, and Cboe Global Markets will also have seats. A new framework for cooperation is thus being built.

This Innovation Committee will operate based on the original Technology Advisory Committee, assisting the CFTC in formulating new regulations. It is one of five external advisory committees, specifically helping the agency make decisions in their respective fields. Considering that the CFTC is preparing to become one of the main cryptocurrency regulators in the U.S., it is currently soliciting public suggestions for new members and agenda proposals before the end of January.