CFTC’s New Tech Advisory Group Includes Execs From Circle, Paradigm

The NFT Unicorn CFTC-1-2 CFTC’s New Tech Advisory Group Includes Execs From Circle, Paradigm Crypto News

The Commodity Futures Trading Commission (CFTC) announced the addition of key industry members to the newly constituted Technology Advisory Committee (TAC).

The official press release stated that the agency has appointed White House official Carole House as the new chair, while blockchain analysis company TRM Labs’ Ari Redboard has been onboarded as the vice chair of its Technology Advisory Committee.

Committee Members

The Technology Advisory Committee will be joined by executives from IBM, Amazon, CME Group, and Cboe Global Markets. Professors from university law schools, including Cornell, Washington College of Law, and the University of Michigan, have also been named in the list.

The TAC also features several members from the cryptocurrency industry, namely – Ava Labs founder and CEO Emin Gün Sirer, Circle vice president of global policy Corey Then, FireBlocks co-founder and CEO Michael Shaulov, Paradigm’s Policy Director Justin Slaughter, Inca Digital CEO Adam Zarazinski and blockchain auditor Trail of Bits co-founder Dan Guid.

The representation signaled the agency’s push to regulate cryptocurrency markets, and the approach has been contrasting with other regulatory watchdogs in the US, which have been hostile while dealing with the asset class.

Commissioner Christy Goldsmith Romero, who took office last March, is sponsoring the TAC. In a statement, Romero highlighted the markets experiencing some of the most challenging and innovative times for next-generation technology and added,

“I am honored that the new members of the Technology Advisory Committee have agreed to this public service. To protect our markets from increasingly-sophisticated cyber attacks, to ensure responsible development of digital assets in a way that protects customers, and to ensure that the implications of emerging technologies like artificial intelligence are well understood, the Commission requires advice from technology experts.”

TAC’s Role

The newly formed committee is tasked with assisting the CFTC in identifying and understanding the impacts and implications of technological innovation in financial services and markets. The TAC will notify the agency’s  issues related to tech “to ensure the integrity of derivatives and commodities markets and the achievement of other public interest objectives.”

Furthermore, it is also expected to advise on matters associated with technological investments that could help CFTC in meeting its surveillance and enforcement responsibilities.


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Source: CryptoPotato