Cryptocurrency

After incorporating a number of industry leaders on its new Technology Advisory Group, the Commodities Futures Trading Commission (CFTC) has shown interest in the cryptocurrency and blockchain industries (TAC). On March 13, CFTC commissioner and TAC supporter Christy Goldsmith Romero made a public announcement about the amended membership. The new committee&#39;s first meeting is scheduled for March 22.In order to help the CFTC &#34;detect and comprehend the ramifications and implications of technology innovation in financial services and markets,&#34; the TAC was established in 1999.The statement said that the TAC &#34;may inform the Commission&#39;s examination of technology-related problems in support of its duty to protect the integrity of derivatives and commodities markets and the accomplishment of other public interest goals&#34;. The chair will be Carole House, a former official in the White House, and the vice chair will be Ari Redboard, the director of legal and government affairs of the blockchain intelligence company TRM Labs.Emin Gün Sirer, co-founder and CEO of Ava Labs, Circle vice president of global policy Corey Then, Michael Shaulov, co-founder and CEO of FireBlocks, CEO of digital asset analytics company Inca Digital, and Dan Guid, co-founder of Trail of Bits, are other members with a connection to cryptocurrencies. The TAC also includes leaders from well-known businesses outside of cryptocurrency, like IBM, Amazon, the CME Group, and Cboe Global Markets. Professors from prestigious legal institutions like Cornell and the University of Michigan are likewise well represented.To regulate and safeguard the commodities/futures market, Goldsmith Romero emphasized the significance of working with members from private tech companies and other organizations: &#34;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 Commissio These professionals can give us background information on the technology as well as the intricate and subtle effects and consequences of technology on the financial markets, the speaker continued.The Securities and Exchange Commission (SEC), which is said to have operated coldly against crypto businesses behind closed doors, appears to be in sharp contrast to the collaborative approach taken by the CFTC.During the past several years, executives including Coinbase CEO Brian Armstrong, Kraken co-founder Jesse Powell, and Custodia Bank CEO Caitlin Long have all called attention to problems with attempting to proactively cooperate with the SEC and the government.

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