The CFTC Establishes Technical Committee to Study Emerging Technologies

03/16/2023 11:08 • Metaverse & Beyond • 63 views

According to reports, the United States Commodity Futures Trading Commission (CFTC) announced this week the establishment of a new technical committee to educate the government on emerging technologies such as encryption and artificial intelligence. Corey Then, Vice President of Global Policy at Circle, along with ten other cryptocurrency centric members, will also be a member of the Technical Advisory Committee (TAC).

Vice President of Global Policy at Circle and dozens of other encryption members join the technical committee established by CFTC

Analysis based on this information:

The United States Commodity Futures Trading Commission (CFTC) has recently established a new technical committee to educate the government on emerging technologies. The Technical Advisory Committee (TAC) will focus on providing the regulators with insights on technologies such as encryption and artificial intelligence.

The CFTC has always shown keen interest in understanding the impacts of technology on financial markets. The establishment of TAC is a clear indication that the agency is committed to keeping up with emerging trends in order to facilitate the growth of the industry.

The new committee will feature eleven members, ten of whom will be from the cryptocurrency industry. This decision indicates the agency’s realization that the adoption of blockchain technology and cryptocurrencies is rapidly increasing, with the need for experts to help to better understand the technologies.

Corey Then, who also acts as Vice President of Global Policy at Circle, a cryptocurrency payment firm, is among the members selected to join the committee. Other members include experts in fintech, market infrastructure and emerging technologies.

The role of the committee will be to advise the CFTC on the impact of new, emerging technologies on the derivatives markets, as well as guide the CFTC’s research into potential opportunities and challenges these technologies pose. By having this crucial insight, regulators will be better equipped to understand and navigate growing trends in technology, which will help in setting appropriate policies for the financial sector.

In conclusion, the creation of the Technical Advisory Committee (TAC) by the CFTC is a positive step towards understanding, embracing, and regulating emerging technology. The committee will help regulators stay informed on developments within the industry, and by having ten members from the cryptocurrency sector, the CFTC will be well-positioned to steer policies that will shape the future of the financial sector, meeting the needs of an ever-changing market.

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/metaverse/6679.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.