Overview
- The initiative launches a comprehensive review of legacy CFTC regulations to accommodate 24/7 blockchain markets, perpetual futures, AI-driven trading, and prediction platforms.
- Policymaking will move from case-by-case enforcement to public rulemaking with a stated focus on the “minimum effective dose” of regulation targeting specific risks.
- Selig argued that enforcement-led oversight drove firms overseas and said clearer, purpose-built rules aim to keep innovation and capital in the U.S. as digital assets exceed roughly $3 trillion in value.
- The effort is being staffed with senior hires Michael Passalacqua and Cal Mitchell to support policy development and engagement.
- An Innovation Advisory Committee is being formed to provide technical and market input, and the CFTC says it is ready to assume expanded duties if Congress enacts measures such as the Digital Asset Market Clarity Act.