Caroline Pham Launches Nominations for CFTC's Crypto Council

CFTC's New CEO Innovation Council: The U.S. Commodity Futures Trading Commission (CFTC) is forming a CEO Innovation Council to enhance oversight of digital assets and prediction markets, with nominations open until December 8.

Legislative Developments: The CFTC is poised for an expanded role in regulating cryptocurrency spot markets, but progress on related legislation has slowed, creating uncertainty about future authority.

Initiatives for Market Clarity: The CFTC has launched initiatives like the "Crypto Sprint" to identify regulatory gaps and improve rulemaking, alongside public forums and collaboration with Congress on digital asset legislation.

Future Preparedness: Acting Chair Caroline Pham emphasized the importance of expert guidance from industry leaders as the CFTC prepares for future trading products in the crypto space, reaffirming its commitment to overseeing these markets.