CFTC adds execs from Circle, Ava Labs and Fireblocks to tech advisory group

The Commodity Futures Trading Commission (CFTC) has shown its acceptance of the cryptocurrency and blockchain sector after including several executives in the field as part of its new Technical Advisory Committee (TAC).

CFTC Commissioner and TAC sponsor Christy Goldsmith Romero announced the renewed membership through a public statement on March 13, and the new commission’s first meeting is scheduled for March 22.

The TAC itself was established in 1999 to help the CFTC “identify and understand the impact and impact of technological innovation on financial services and markets.”

“The TAC may inform the Commission’s consideration of technology-related matters in support of its mandate to ensure the integrity of the derivatives and commodities markets and to achieve other public interest objectives,” the announcement said. says.

The TAC may also provide advice on technology investments that “can assist the Commission in fulfilling its oversight and enforcement responsibilities.”

It will be chaired by former White House official Carol House and vice-chaired by Ari Redboard, head of legal and government affairs at blockchain intelligence firm TRM Labs.

Other crypto-related members include Emin Gün Sirer, founder and CEO of Ava Labs, Corey Then, vice president of global policy at Circle, Michael Shausov, co-founder and CEO of digital asset platform FireBlocks, and digital asset analytics firm Inca. Digital CEO Adam Zarazinski and blockchain auditor Trail. Dan Guid, co-founder of Bits.

Outside of cryptocurrencies, the TAC also includes executives from major companies such as IBM, Amazon, CME Group and Cboe Global Markets. Professors at law schools such as Cornell University and the University of Michigan are also making efforts.

As part of the announcement, Goldsmith Romero emphasized the importance of working with members of the private sector technology and other organizations to regulate and protect the commodities/futures markets.

“To protect markets from increasingly sophisticated cyberattacks, ensure responsible development of digital assets in a way that protects customers, and ensure that the impact of emerging technologies like artificial intelligence is fully understood. , the committee needs advice from technical experts.”

“These professionals not only provide basic knowledge about technology, but also provide us with the complex and nuanced impact and implications of technology on financial markets,” she added.

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The CFTC’s collaborative approach stands in stark contrast to that of other US agencies, such as the Securities and Exchange Commission (SEC), which has reportedly been secretive and cold-hearted towards cryptocurrency companies. It seems that there is.

Executives such as Coinbase CEO Brian Armstrong, Kraken co-founder Jesse Powell, and Custodia Bank CEO Caitlin Long have discussed the problems of actively working with the SEC and government over the past few years. has been emphasized.