CFTC Taps Top Crypto CEOs for New Innovation Advisory Committee

The US derivatives and commodities regulator, the Commodity Futures Trading Commission (CFTC), announced February 12 that several prominent crypto executives — including Ripple CEO Brad Garlinghouse and Coinbase CEO Brian Armstrong — have been appointed to its newly established Innovation Advisory Committee (IAC).

The CFTC said the new committee will guide the regulator’s approach to “cutting edge” innovations, including artificial intelligence (AI) and blockchain, within derivative and commodity markets.

“Today marks an important and energizing moment at the CFTC as the Innovation Advisory Committee takes shape,” CFTC Chairman Michael Selig said.

The CFTC is set to play a larger role in the regulation of the crypto market if, or when, the crypto market structure bill referred to as the CLARITY Act passes the US Congress.

In addition to crypto executives, the committee features 35 leaders from a broad range of businesses, including betting firms like Draft Kings, prediction markets like Polymarket and Kalshi, venture capital firms like a16z and TradFi institutions like Cboe and Nasdaq.

The complete list of appointees is:

1. Hayden Adams, CEO, Uniswap Labs
2. Brian Armstrong, CEO, Coinbase
3. Andrej Bolkovic, CEO, Options Clearing Corporation
4. Thomas Chippas, CEO, Rothera Markets
5. Shayne Coplan, CEO, Polymarket
6. Professor Harry Crane, Representative
7. Chris Dixon, Managing Partner, a16z crypto
8. Craig Donohue, CEO, Cboe Global Markets
9. Terry Duffy, Chair & CEO, CME Group
10. Tom Farley, CEO, Bullish
11. Adena Friedman, Chair & CEO, Nasdaq
12. Brad Garlinghouse, CEO, Ripple
13. Christian Genetski, President, Fan Duel
14. Luke Hoersten, CEO, Bitnomial
15. Frank La Sella, President & CEO, Depository Trust and Clearing Corporation
16. Walt Lukken, CEO, FIA
17. Tarek Mansour, CEO, Kalshi
18. Kris Marszalek, CEO, Crypto.com
19. Nathan McCauley, CEO, Anchorage Digital
20. Peter Mintzberg, CEO, Grayscale
21. Sergey Nazarov, CEO, Chainlink Labs
22. Scott D. O’Malia, CEO, ISDA
23. Alana Palmedo, Managing Director, Paradigm
24. Vivek Raman, CEO, Etherealize
25. Professor Carla Reyes, Representative
26. Jason Robins, CEO, Draft Kings
27. David Schwimmer, CEO, LSEG
28. Arjun Sethi, Co-CEO, Kraken
29. Peter Smith, CEO, blockchain.com
30. Vance Spencer, Co-founder, Frameworks Ventures
31. Jeff Sprecher, CEO, Intercontinental Exchange
32. Vlad Tenev, CEO, Robinhood
33. Don Wilson, CEO, DRW
34. Tyler Winklevoss, CEO, Gemini
35. Anatoly Yakovenko, CEO, Solana Labs

Related: Ripple CEO Says $1 Trillion Valuation Is Within Reach

CFTC Boss Selig Says His Appointment Marks Beginning of New Chapter for Regulator

Speaking last month shortly after his swearing in, CFTC Chair Selig said his appointment marks the “beginning of a new chapter for the CFTC.”

“We are witnessing the foundation of modern markets take shape,” the CFTC Chair said. “As this transformation unfolds, the CFTC has an opportunity to build on its historic role as a forward looking regulator.”

These comments refer to Selig’s pro-innovation stance on a number of emerging technologies, including digital assets and AI. 

Related: SEC and CFTC Signal United Front on Crypto Oversight as Jurisdiction Lines Take Shape

Specifically discussing crypto, Selig said he’s keen to see the CFTC follow the SEC’s recent lead and adopt a “commonsense crypto asset taxonomy,” in order to clarify that digital commodities, collectibles and tools do not qualify as securities. 

Selig said he had already instructed staff at the CFTC to cooperate with SEC staff to “consider joint codification of this framework as an interim measure while Congress finalizes legislation.”

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