CFTC Enlists Crypto and Finance Leaders for Global Advisory Panel
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The Commodity Futures Trading Commission (CFTC) has appointed new members to its Global Markets Advisory Committee and Digital Asset Markets Subcommittee. This significant move brings together prominent figures from both the traditional finance world and the cryptocurrency industry to advise the agency on digital asset issues. Scott Lucas of J.P. Morgan and Sandy Kaul of Franklin Templeton will co-chair the subcommittee. Notable additions to the panel include representatives from Uniswap Labs, Aptos Labs, BNY Mellon, and Chainlink Labs. This collaboration aims to bridge the gap between market practices and rulemaking, providing valuable expertise to the CFTC as it navigates the evolving landscape of digital asset regulation in the US. The appointments are particularly relevant as the CFTC explores allowing spot crypto trading on registered futures exchanges, a move that could significantly reshape the regulatory oversight of crypto products. The advisory committee's role is crucial, especially given current leadership gaps within the CFTC. While the committee's recommendations are advisory, they are expected to influence future rulemaking, potentially leading to either faster approvals for new trading venues or stricter regulations for the crypto market.
(Source: https://bitcoinist.com/crypto-heavyweights-join-cftcs-global-advisory-panel-details/)
