Chainlink co-founder and CEO Sergey Nazarov said at the first meeting of the US Commodity Futures Trading Commission’s Innovation Advisory Committee that improving cooperation between the CFTC and the Securities and Exchange Commission has already helped restore trust in US financial markets. He said the shift away from public conflict toward a more constructive working relationship supports a more unified regulatory vision and reduces the kind of fragmented rulemaking that has held back innovation.
Nazarov argued that regulatory fragmentation has carried a real cost for the United States. Drawing on Chainlink’s role in supplying data and cross-chain infrastructure to thousands of applications and much of the DeFi ecosystem, he said he has watched hundreds of developers leave the US over the past seven years because of uncertainty, choosing not to build high-quality products in the country or serve American consumers.
He also pointed to tokenized equities as the next major trend, saying they could unlock substantial onchain value. With the US stock market accounting for about 60% of global equity market value and flow, Nazarov said the US will need to move its financial system onchain at the same pace as the rest of the world, or faster, if it wants to preserve that lead.
Chainlink co-founder and CEO Sergey Nazarov said at the first meeting of the US Commodity Futures Trading Commission’s Innovation Advisory Committee that the speed at which the US financial system moves onchain will help determine whether the country keeps its global lead in finance.
According to BlockBeats, Nazarov said he appreciated that the CFTC and the Securities and Exchange Commission had finally begun working together in an efficient and constructive way, instead of publicly clashing as they had before.
He said that change alone had already improved the reputation and trust of US financial markets and could help create a more unified regulatory vision, avoiding the kind of "16 or 25 conflicting rules" that had previously blocked innovation.
Nazarov said regulatory fragmentation has come at a serious cost. Chainlink provides data, cross-chain and other infrastructure for thousands of applications and supports much of the DeFi ecosystem. Over the past seven years, he said, he had personally watched hundreds of developers leave the United States because of uncertainty, choosing not to build high-quality applications there and no longer serving US consumers.
He added that those innovators are no longer in the room today, calling that a major loss for the US financial system and for American consumers.
On what comes next, Nazarov said tokenized equities will unlock substantial onchain value. He said the US stock market currently accounts for about 60% of global equity market value and flow. If the global financial system is moving onchain faster, he said, the United States will need to move at the same speed or faster to preserve that dominant position. Otherwise, innovation and market advantages could slip away.
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