CFTC Forms Innovation Task Force to Enhance Crypto Clarity

The Commodity Futures Trading Commission (CFTC) has formed an Innovation Task Force to provide clearer rules for the crypto market. The task force is led by Michael Passalacqua, a senior advisor to CFTC Chairman Mike Selig.

The five initial members of the task force bring a blend of legal and regulatory experience tailored to crypto markets. Hank Balaban, formerly a crypto-focused attorney at Latham & Watkins, will join forces with Sam Canavos, an ex-Patomak advisor with crypto and prediction markets experience. Mark Fajfar, a longtime CFTC legal veteran, Eugene Gonzalez IV, who previously practiced cryptocurrency law at Sidley Austin, and Dina Moussa, a Market Participants Division special counsel at the CFTC.

Chairman Selig praised the lineup, saying '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.'

The expansion of the Innovation Task Force fits a broader push by U.S. regulators to provide regulatory clarity for the digital asset sector. The CFTC's move comes alongside parallel efforts at the Securities and Exchange Commission to define regulatory boundaries for crypto assets.