CFTC Launches New 35-Seat Crypto Advisory Committee Amid SEC Tensions

The CFTC establishes a 35-seat committee focused on crypto innovation, shifting the regulatory landscape and intensifying its rivalry with the SEC.

The Chairman of the Commodity Futures Trading Commission (CFTC) has initiated a new Innovation Advisory Committee, which includes prominent leaders from the cryptocurrency, exchange, and prediction-market sectors. This significant move comes at a time when the CFTC is looking to enhance its role in the rapidly evolving digital asset market.

For many cryptocurrency traders, the CFTC often remains an afterthought until there’s a major incident, such as a legal challenge or a headline regarding Bitcoin futures captures attention. Generally, in the landscape of US regulatory bodies, the Securities and Exchange Commission (SEC) tends to dominate the conversation related to cryptocurrencies.

This newly formed committee indicates a shift in focus for the CFTC, as it aims to position itself more prominently within the crypto ecosystem. With these developments, the stakes are rising in the ongoing regulatory battle between the CFTC and the SEC.