The Commodity Futures Trading Commission has appointed dozens of senior cryptocurrency industry executives to its new Innovation Advisory Committee. The panel, which includes leaders from Coinbase, Uniswap Labs, Ripple, and Kraken, aims to provide regulatory guidance on financial market innovation. This move comes as Congress debates the CLARITY Act, with disagreements over stablecoin regulation persisting.
The Commodity Futures Trading Commission named dozens of senior crypto executives to its Innovation Advisory Committee on Thursday. This unusually concentrated industry participation includes executives from Coinbase, Uniswap Labs, Ripple, Kraken, Robinhood, CME Group, and Nasdaq.
Established last month, the committee aims to provide the regulator with expertise on financial market innovation. CFTC Chairman Michael S. Selig stated the panel would help the agency “future-proof its markets” as technologies like blockchain reshape finance.
The development occurs as lawmakers continue debating the CLARITY Act in Congress. The bill seeks to define when digital assets fall under securities or commodities oversight between the CFTC and SEC.
While that jurisdictional division is largely accepted, participants remain divided over the treatment of stablecoins. The most contentious provision involves whether crypto companies should be permitted to offer yield on dollar-pegged tokens.
Coinbase CEO Brian Armstrong has joined the CFTC panel weeks after withdrawing support for the Senate bill. Armstrong cited concerns over banking lobby-driven limits on stablecoin rewards.
He argued the draft contained “too many issues,” including provisions restricting tokenized products and constraining DeFi. Armstrong also warned the legislation would erode the CFTC’s authority by making it “subservient to the SEC.”
