TLDR
- The CFTC has announced the formation of the CEO Innovation Council to focus on digital assets and prediction markets.
- Nominations for the council will be accepted until December 8, 2025, to involve senior industry leaders.
- Acting chair Caroline Pham emphasized the importance of expert guidance in shaping future CFTC regulations.
- Michael Selig has been nominated to lead the CFTC, with a Senate vote on his confirmation expected soon.
- Selig highlighted the need for regulatory oversight in digital asset commodity markets to ensure consumer protection.
The U.S. Commodity Futures Trading Commission (CFTC) has opened nominations for its new advisory body, the CEO Innovation Council. The council will focus on digital assets, prediction markets, and the structure of derivatives markets. The CFTC aims to involve senior industry leaders in shaping future regulations.
The CFTC’s acting chair, Caroline Pham, announced on Tuesday. The council will accept submissions until December 8, 2025. This effort follows the CFTC’s previous initiatives like the “Crypto Sprint” and public forums. The agency has worked to engage with Congress on digital asset market regulations.
“The CFTC stands ready to carry out our mission over expanded markets and products, including crypto and digital assets,” said Pham.
She emphasized the importance of expert industry leaders in providing guidance. Pham sees the CEO Innovation Council as critical for the CFTC’s work on emerging markets.
Selig Nominated for Chair Amid Leadership Transition
Michael Selig, a Securities and Exchange Commission (SEC) official, has been nominated to lead the CFTC. President Donald Trump’s nomination of Selig comes as the agency faces a leadership transition. The Senate is expected to vote on his confirmation soon.
Selig recently testified before the Senate Agriculture Committee, expressing his views on digital asset markets. He emphasized that regulatory oversight in digital asset commodity markets is crucial for consumer protection. His statements reflect ongoing debates over the CFTC’s authority over digital assets alongside the SEC’s.
Selig’s remarks also aligned with the CFTC’s interest in allowing stablecoins to be used as collateral in derivatives markets. The agency had previously shown interest in such a move earlier this year. With a potential change in leadership, the future direction of the CFTC’s initiatives remains uncertain.
CFTC Pushes for Industry Engagement and Public Input
The formation of the CEO Innovation Council highlights the CFTC’s commitment to engaging with the industry. The advisory body will consist of senior executives from companies in the crypto and digital asset sectors. These leaders will provide feedback on regulatory frameworks for digital asset markets.
This effort aligns with the CFTC’s broader strategy to ensure that markets remain resilient while protecting participants. The council’s input will be vital in shaping policies that balance innovation with market stability. The agency believes the collaboration will help it effectively supervise growing markets in the future.
The CFTC’s leadership change may influence the future of the council’s operations. The agency has been operating with minimal leadership in recent months, with Pham as the sole commissioner. The council’s formation could be a crucial step as the CFTC prepares for new leadership.
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