CFTC expands crypto push as CLARITY Act awaits senate action
The US Commodity Futures Trading Commission has named the first members of its new Innovation Task Force as the agency steps up its work on crypto regulation.
- CFTC named five task force members as it expands work on crypto market oversight.
- Mike Selig also launched an innovation tracker covering crypto, AI, and prediction markets.
- Agency roles still depend on whether Congress passes the CLARITY Act into law.
The move comes as lawmakers continue to debate the CLARITY Act, which would define the roles of the CFTC and the Securities and Exchange Commission in digital asset oversight.
CFTC Chairman Mike Selig first launched the task force on March 24 and appointed Michael Passalacqua to lead it.
On Friday, the agency confirmed the first five members and outlined broader efforts tied to its push for clearer rules for new technologies.
CFTC names first task force members
The CFTC said Passalacqua will lead the group alongside five initial members. They include Hank Balaban, Sam Canavos, Mark Fajfar, Eugene Gonzalez IV, and Dina Moussa. The agency described the team as part of its effort to support work on crypto, prediction markets, and other emerging sectors.
Selig said the team brings strong legal and policy experience to the agency. He stated,
“The Innovation Task Force brings together a leading team that exhibits deep expertise and an enthusiastic commitment to deliver clear rules of the road for American innovators.”
On the same day, Selig also announced the launch of the CFTC’s innovation tracker. The agency said the tracker will show the work completed under his leadership to support regulatory clarity, market integrity, and responsible technology development.
According to the CFTC, the tracker covers three main areas. These include crypto and blockchain, artificial intelligence and autonomous systems, and contracts and prediction markets. The new page is meant to show the scope of the agency’s work in each area.
Crypto oversight debate remains active
The latest announcement comes as the debate over crypto oversight continues in Washington. The CFTC could take on a larger role if lawmakers approve a framework that places more digital assets under its watch.
That process remains incomplete because the CLARITY Act has not yet become law. SEC Chair Paul Atkins said on X that both agencies are “ready to implement the CLARITY Act” and added, “It’s time for Congress to future-proof against rogue regulators and advance comprehensive market structure legislation to President Trump’s desk.”
