The U.S. Commodity Futures Trading Commission (CFTC) launched its Innovation Task Force on March 24, 2026, led directly by Chair Mike Selig, with Michael Passalacqua as the group leader. The task force aims to craft forward-looking policies for digital asset markets and fill existing regulatory gaps.
Diverse team with legal and crypto expertise
The task force brings together experts from various backgrounds, including Hank Balaban (formerly Latham & Watkins), Sam Canavos (Patomak, crypto and prediction markets), Mark Fajfar (CFTC legal advisor), Eugene Gonzalez IV (Sidley, blockchain), and Dina Moussa (special advisor in the market participants division). Selig stressed that the team's diverse expertise would ensure professional and comprehensive regulation.
Selig: Clear rules to spur innovation
Chair Selig stated, "The Innovation Task Force stands out for its independence, expertise, and commitment to developing clear rules for American entrepreneurs." He prioritized crafting clearer rules to encourage innovation and compliance in crypto markets. The CFTC, as the independent federal regulator for derivatives, has recently taken a more active role in shaping the regulatory landscape for crypto assets and blockchain-based technologies.
Inter-agency coordination and the CLARITY Act
The task force is part of broader efforts between the CFTC and the SEC to achieve consistent oversight for digital assets. Both agencies are working to define their jurisdictional boundaries and eliminate regulatory grey zones. The CFTC also unveiled an "innovation tracking system" to monitor work on regulatory clarity, market integrity, and emerging technologies, aiming to foster transparency and responsible progress. Key focal points include cryptocurrencies, blockchain, AI systems, and contract/prediction markets.
SEC Chairman Paul Atkins voiced readiness from both agencies to implement the forthcoming regulatory structure and urged Congress to advance comprehensive market structure reform. Atkins said, "The agencies are prepared to enforce the CLARITY Act; now it's time to advance a comprehensive market structure reform." However, the rebalancing of regulatory roles largely depends on the passage of the CLARITY Act, a bill that would establish a comprehensive framework for digital asset markets and clearly outline supervisory responsibilities.