The Commodity Futures Trading Commission launched an Innovation Task Force on March 24, with Chairman Michael S. Selig making the announcement and staff named on April 10. The unit, led by Michael J. Passalacqua, brings internal staff and external expertise to guide crypto policy.
Scope and Leadership
The task force will address crypto assets, blockchain systems, artificial intelligence, and prediction markets. Passalacqua noted the team combines legal and market experience to support practical policy development. Mark Fajfar was appointed senior adviser and Taylor Foy senior counsel on April 10, signaling a dedicated policy team.
Selig's Pitch: 'Clear Rules of the Road'
Chairman Selig said the task force aims to deliver “clear rules of the road” for innovators. This follows several March actions: on March 17, the CFTC worked with the SEC to clarify how securities laws apply to crypto; on March 20, the CFTC issued guidance for firms handling crypto activity, outlining how regulated entities can operate within existing frameworks.
Building Institutional Channels
These steps directly connect to the new task force. Members include Hank Balaban, Sam Canavos, Eugene Gonzalez IV, and Dina Moussa, drawn from regulatory and private-sector backgrounds. The CFTC also confirmed coordination with the SEC and internal advisory groups to clarify jurisdictional boundaries while supporting oversight across derivatives and digital asset markets.