CFTC Appoints Crypto Leaders to Its Technology Advisory Committee
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(Kitco News) – As calls to develop comprehensive cryptocurrency regulation grow, the Commodity Futures Trading Commission (CFTC) has signaled it is taking a more open stance on the sector with the inclusion of several new voices from the crypto industry on its Technology Advisory Committee ( TAC).
Commissioner Christy Goldsmith Romero, the sponsor of the CFTC’s new Technology Advisory Committee (TAC), announced the newly formed membership of the TAC on Monday, which now includes the likes of Ava Lab’s founder and CEO Emin Gün Sirer, Circle Vice President of Global Policy Corey Nuven FireBlock’s co-founder and CEO Michael Shaulov, Inca Digital CEO Adam Zarazinski and blockchain auditor Trail of Bits co-founder Dan Guid.
“I am delighted to have been appointed to the CFTC’s Technical Council,” Emin Gün Sirer tweeted in response to the announcement. “I will do everything I can to move the space forward, inform regulators about the latest developments in crypto, and bring the benefits of blockchain to our financial system.”
The TAC was originally formed in 1999 with the goal of helping the CFTC “identify and understand the impacts and implications of technological innovation in financial services and markets.”
According to the announcement, “TAC may inform the Commission’s assessment of technology-related issues in support of its mission to ensure the integrity of derivatives and commodity markets and the achievement of other public interest objectives.”
The Committee also assists the CFTC by advising on technology investments that help support the Commission’s goals with respect to oversight and enforcement responsibilities.
Former White House official Carole House will serve as chair of the committee, with Ari Redboard, head of legal and government affairs at blockchain intelligence firm TRM Labs, as vice chair.
“To protect our markets from increasingly sophisticated cyber-attacks, to ensure the responsible development of digital assets in a way that protects customers, and to ensure that the implications of new technologies such as artificial intelligence are well understood, the Commission requires advice from technology experts,” said Commissioner Romero. “These experts can provide us with fundamental knowledge of the technology, as well as the complex and nuanced impacts and implications of technology on financial markets.”
Aside from the crypto-related additions to the TAC, executives from IBM, Amazon, CME Group and Cboe Global Markets have also joined the committee, along with several professors from university law schools, including Cornell and the University of Michigan. The founding meeting of the new committee will take place on 22 March.
This open, collaborative approach by the CFTC is a welcome sight to many in the crypto industry who have lamented the oppositional approach that other regulators, such as the Securities and Exchange Commission, have taken toward crypto up to this point.
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