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The new head of the Commodity Futures Trading Commission, Mike Selig, has revitalized the agency’s former CEO innovation council, nearly tripling its membership.
U.S. Commodity Futures Trading Commission Chairman Mike Selig has appointed numerous CEOs to an advisory group, including leaders from Coinbase and Ripple. (Jesse Hamilton/CoinDesk)
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- The U.S. Commodity Futures Trading Commission has released its first list for the Innovation Advisory Committee, featuring Coinbase CEO Brian Armstrong and Ripple CEO Brad Garlinghouse.
- The committee will play a role in guiding future regulations as the U.S. derivatives regulator assumes oversight responsibilities in the cryptocurrency markets.
The U.S. Commodity Futures Trading Commission, poised to become a primary regulator of the crypto sector, has appointed several of the industry’s leading executives as members of its newly formed Innovation Advisory Committee, which includes the CEOs of Coinbase, Ripple, Robinhood, and Uniswap Labs.
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The 35-member committee will guide the U.S. derivatives regulator regarding the requirements of firms at the forefront of financial innovation, and to expand its membership, the agency has revitalized a prior CEO council that was set up at the end of last year prior to Mike Selig’s appointment as CFTC Chairman.
“By uniting participants from every segment of the marketplace, the IAC will serve as a significant resource for the Commission as we strive to update our rules and regulations to accommodate the innovations of today and tomorrow,” Selig stated in a press release.
While the earlier group already featured members such as Gemini CEO Tyler Winklevoss, Kraken Co-CEO Arjun Sethi, and Polymarket CEO Shayne Coplan, the expanded committee incorporates numerous additional crypto CEOs and the leading executives of FanDuel and DraftKings. Furthermore, the advisors will include leaders from several traditional firms and organizations, such as the chief executives of Nasdaq, CME Group, Cboe Global Markets, Futures Industry Association (FIA), and International Swaps and Derivatives Association (ISDA).
Other new individuals among the 35 include Chris Dixon from a16z Crypto, Anatoly Yakovenko of Solana Labs, Peter Mintzberg of Grayscale, Sergey Nazarov of Chainlink Labs, and Alana Palmedo of Paradigm. Tom Farley, the CEO of Bullish, CoinDesk’s parent company, is also included as a member.
Selig recently unveiled a crypto agenda that his agency is pursuing in collaboration with the Securities and Exchange Commission, having officially joined forces with the SEC’s Project Crypto.
The CFTC’s advisory committee is listed below (* denotes earlier council membership):
- Hayden Adams, CEO, Uniswap Labs
- Brian Armstrong, CEO, Coinbase
- Andrej Bolkovic, CEO, Options Clearing Corporation
- Thomas Chippas, CEO, Rothera Markets
- Shayne Coplan, CEO, Polymarket *
- Professor Harry Crane, Representative
- Chris Dixon, General Partner, a16z Crypto
- Craig Donohue, CEO, Cboe Global Markets *
- Terry Duffy, Chair & CEO, CME Group *
- Tom Farley, CEO, Bullish *
- Adena Friedman, Chair & CEO, Nasdaq *
- Brad Garlinghouse, CEO, Ripple
- Christian Genetski, President, FanDuel
- Luke Hoersten, CEO, Bitnomial *
- Frank LaSalla, President & CEO, Depository Trust and Clearing Corporation
- Walt Lukken, CEO, FIA
- Tarek Mansour, CEO, Kalshi *
- Kris Marszalek, CEO, Crypto.com *
- Nathan McCauley, CEO, Anchorage Digital
- Peter Mintzberg, CEO, Grayscale
- Sergey Nazarov, CEO, Chainlink Labs
- Scott D. O’Malia, CEO, ISDA
- Alana Palmedo, Managing Partner, Paradigm
- Vivek Raman, CEO, Etherealize
- Professor Carla Reyes, Representative
- Jason Robins, CEO, DraftKings
- David Schwimmer, CEO, LSEG *
- Arjun Sethi, Co-CEO, Kraken *
- Peter Smith, CEO, Blockchain.com
- Vance Spencer, Co-founder, Framework Ventures
- Jeff Sprecher, CEO, Intercontinental Exchange *
- Vlad Tenev, CEO, Robinhood
- Don Wilson, CEO, DRW
- Tyler Winklevoss, CEO, Gemini *
- Anatoly Yakovenko, CEO, Solana Labs
Read More: CFTC to tap Tyler Winklevoss, other crypto CEOs as first members of innovation panel
