U.S. CFTC welcomes crypto executives to innovation council

The Commodity Futures Trading Commission (CFTC) recently published a list comprising the first members of its CEO Innovation Council. Sources close to the situation revealed that this council was established to review transformations in the derivatives market, with a specific focus on cryptocurrency, tokenization, and blockchain technology. 

Notably, some of the major crypto industry CEOs joining this council include Shayne Coplan from Polymarket, Tyler Winklevoss from Gemini, and Arjun Sethi from Kraken. Leaders from well-known companies, including Nasdaq, Intercontinental Exchange, CME Group, and Cboe Group, will accompany them.

Crypto industry CEO’s express their willingness to share insight with CFTC

Caroline Pham, a commissioner of the Commodity Futures Trading Commission who was appointed as acting chair of the CFTC by U.S. President Donald Trump, voiced her appreciation to CEOs who expressed their willingness to share their insight with the federal agency.

This group of CEOs was formed over a period of just two weeks. According to Pham, it will focus primarily on advancements in sectors such as derivatives markets connected to tokenization, crypto assets, 24/7 trading, perpetual contracts, prediction markets, and blockchain infrastructure.

To demonstrate their commitment to achieving this goal, the commission unveiled a full list of members joining the council. This information was released by sources familiar with the situation.

Some of these members include: Shayne Coplan (Polymarket), Adena Friedman (Nasdaq), Tarek Mansour (Kalshi), Kris Marszalek (Crypto.com), Arjun Sethi (Kraken), Tyler Winklevoss (Gemini), and Tom Farley (Bullish), among others.

Meanwhile, it is worth noting that this formation of a team of CEOs marks the latest update in a series of rapid updates from Pham and the CFTC regarding the ecosystem. 

This move takes place as the interim chair works to bring her key crypto goals to a swift completion.

Several leaders promote friendly digital asset policies

The Commodity Futures Trading Commission unveiled a pilot initiative specifically aimed at utilising crypto as collateral in the derivatives market this week.

This program was introduced just a few days after CFTC’s acting chair made public that Bitnomial, whose CEO is on the list of members joining the council, had adopted leverage spot crypto trading. Pham commented that she personally supports this move, as it is permitted under U.S. derivatives regulations.

Following her statement, analysts noted that these appear to be the final days for Pham’s leadership at the commission. This is because the Senate is expected to confirm Trump’s nominee for the position, Mike Selig, as soon as next Wednesday. Once he assumes the chairman role, sources mentioned that he will encounter a wave of new crypto policy initiatives headed by Pham.

Analysts also weighed in on the situation, acknowledging that, although she had been interim chair for under a year, she had prioritized crypto policy as her greatest concern for the derivatives watchdog. This move follows the president of the United States’ order to promote friendly digital asset policies, reinforcing the nation’s stature as a hub for global crypto. Likewise, Paul Atkins, Chairman of the United States Securities and Exchange Commission, has reportedly shifted his attention to Project Crypto, the initiative created by his agency.

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