CFTC Chairman outlines work priorities for the coming years, clarifying crypto regulations and ending the regulatory jurisdiction dispute with the SEC
The Chairman of the U.S. Commodity Futures Trading Commission (CFTC), Mike Selig, disclosed his remarks at the FIA Global Clearing Markets Conference, stating that the U.S. is undergoing a new technological revolution driven by AI, blockchain, and prediction markets. The CFTC needs to ensure that the regulatory framework adapts to this transformation.
Selig outlined the focus areas for the coming years: achieving forward-looking derivatives market regulation through principle-based oversight with minimal effective intervention; addressing the legacy issues of the Dodd-Frank Act; ending the regulatory turf battles and enforcement-style regulation between the CFTC and SEC; ensuring that the U.S. maintains its status as a global crypto hub by clarifying classification rules for real crypto perpetual contracts; establishing a gold standard regulatory framework for prediction markets; making the U.S. a leading market for AI computing; refocusing the Commission on its core responsibilities, moving away from non-core areas like climate policy; prioritizing the needs of the agricultural and energy communities; and bringing markets for critical minerals back to the U.S.
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