CFTC Launches Crypto Innovation Council Amid Regulatory Expansion
CFTC Commissioner Caroline Pham has called on industry CEOs to join a newly formed Crypto Innovation Council, signaling the agency's intent to deepen its oversight of digital assets. The move comes as bipartisan legislation in Congress could expand the CFTC's authority over cryptocurrency markets.
Nominations for the council are open until December 8, with Pham emphasizing the need for 'experienced industry leaders' to shape regulatory frameworks. The announcement follows the CFTC's recent 'Crypto Sprint' initiative aimed at clarifying digital asset regulations.
While legislative timelines remain uncertain, the agency is preparing to oversee spot trading products that may include Leveraged options—a development watched closely by exchanges like Binance, Coinbase, and FTX.