The Commodity Futures Trading Commission (CFTC) announced the addition of key industry members to the newly formed Technology Advisory Committee (TAC).
The official press release stated that the agency has appointed White House official Carole House as the new president, while Ari Redboard of blockchain analytics firm TRM Labs has been brought in as vice president of its Technology Advisory Committee.
committee members
The Technology Advisory Committee will be joined by executives from IBM, Amazon, CME Group and Cboe Global Markets. Also they have been called on the list.
The TAC also features several members of the cryptocurrency industry, namely: Ava Labs founder and CEO Emin Gün Sirer, Circle VP of Global Policy Corey Then, FireBlocks co-founder and CEO Michael Shaulov, Paradigm Policy Director Justin Slaughter, Inca Digital CEO Adam. Zarazinski and the co-founder of blockchain auditor Trail of Bits, Dan Guid.
The representation noted the agency’s push to regulate cryptocurrency markets, and the approach has been in contrast to other regulatory watchdogs in the US, which have been hostile in dealing with the asset class.
Commissioner Christy Goldsmith Romero, who took office last March, is sponsoring the TAC. In a statement, Romero highlighted markets experiencing some of the most challenging and innovative times for next-generation technology, adding:
“I am honored that the new members of the Technology Advisory Committee have accepted this public service. To protect our markets from increasingly sophisticated cyberattacks, to ensure the responsible development of digital assets in a way that protects customers, and to ensure that the implications of emerging technologies such as artificial intelligence are well understood, the Commission requires advice from technology experts.
MAH role
The newly formed committee is tasked with helping the CFTC identify and understand the impacts and implications of technological innovation on financial services and markets. The TAC will notify the agency of technology-related issues “to ensure the integrity of the derivatives and commodity markets and the achievement of other public interest objectives.”
In addition, he is also expected to advise on matters associated with technology investments that could assist the CFTC in fulfilling its oversight and compliance responsibilities.
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