The US Commodity Futures Trading Commission has appointed the first members of its newly formed Innovation Task Force. The move is part of a broader push by the agency, under Chairman Mike Selig, to deliver clearer regulatory rules for the cryptocurrency market and other emerging technologies.
The US Commodity Futures Trading Commission has unveiled the inaugural members of its Innovation Task Force. The group was initially launched by CFTC Chairman Mike Selig on March 24, with senior advisor Michael Passalacqua appointed as its leader.
In an announcement, the agency named five additional members to join Passalacqua. The team includes former private sector crypto lawyers and veteran CFTC legal staff, such as ex-Latham & Watkins attorney Hank Balaban and ex-Sidley blockchain lawyer Eugene Gonzalez IV.
“The Innovation Task Force brings together a leading team that exhibits deep expertise and an enthusiastic commitment to deliver clear rules of the road for American innovators,” Selig stated. This effort aligns with a wider initiative from both the CFTC and the Securities and Exchange Commission to provide regulatory clarity for digital assets.
Selig also announced the CFTC’s “innovation tracker” website on Friday. The platform highlights work done under his leadership to advance regulatory clarity, market integrity, and technological progress.
The tracker lists three key innovation areas: crypto and blockchain, artificial intelligence and autonomous systems, and contracts and prediction markets. The CFTC could become the primary overseer of the crypto industry, as the SEC has indicated it does not view most crypto assets as securities.
However, the definitive roles of both agencies still depend on legislative action. SEC Chair Paul Atkins called for Congress to pass the Clarity Act via X on Thursday. “The SEC and CFTC are ready to implement the CLARITY Act,” he said, urging lawmakers to advance comprehensive market structure legislation.
