U.S. Commodity Futures Trading Commission Chairman Michael Selig said the U.S. is becoming the “crypto capital of the world,” and announced a new regulatory approach to promote innovation and bring clarity to the digital asset industry. Speaking at FIA’s annual conference, he emphasized that blockchain, digital assets, smart contracts, and artificial intelligence are rapidly transforming the commodities market.
Selig also announced the “Project Crypto Initiative,” launched together with Chairman Paul Atkins, to enhance coordination between the U.S. Commodity Futures Trading Commission and the U.S. Securities and Exchange Commission. The goal is to develop a clear classification system for crypto assets and define the scope of regulation.
Additionally, the CFTC plans to issue guidance for off-exchange software developers such as digital wallets and DeFi applications, and is considering regulations for retail crypto trading and leveraged contracts. Selig believes that combining prediction markets with blockchain can help increase transparency and reduce misinformation.
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