The US Commodity Futures Trading Commission (CFTC) has created an Innovation Task Force to help shape regulatory frameworks for crypto, AI and prediction markets.
Chair Michael Selig said the task force will coordinate with the regulator’s Innovation Advisory Committee to develop a framework centered on crypto, blockchain, artificial intelligence and prediction markets. The initiative will be led by Michael Passalacqua, who joined the CFTC as a senior adviser in January after handling crypto and blockchain matters at international law firm Simpson Thacher & Bartlett.
“The idea behind our innovation advisory task force is really to create a space where innovators and builders can come in and talk to the staff,” Selig told attendees at the Digital Asset Summit in New York City. “It’s not just crypto — it’s going to be prediction markets, crypto, and AI. We think these three verticals are really important.”
The announcement follows the SEC’s creation of its own crypto-focused task force more than a year ago, established one day after President Donald Trump took office when SEC Commissioner Mark Uyeda became acting chair following Gary Gensler’s departure. The SEC task force, led by Commissioner Hester Peirce, included Selig as chief counsel at the time prior to his nomination to chair the CFTC.
Regulators are advancing guidance while comprehensive market-structure legislation remains stalled. Last week the SEC issued an interpretative notice proposing that the agency would not treat most crypto assets as securities under federal law. SEC Chair Paul Atkins described the measure as a “bridge” to clarify crypto oversight in the absence of Congressional action on a full digital asset framework.
A market-structure bill—known as the CLARITY Act after passing the House in July 2025—has been stalled in the Senate amid disputes over issues such as stablecoin yield, ethics, and tokenized equities. Although some supporters say lawmakers were nearing agreement, it was unclear when the bill might reach the Senate floor for a vote.
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