CFTC Chair Michael Selig says regulators must ready U.S. markets for mass tokenization, round-the-clock trading, and wider stablecoin use. The remarks come as the agency and the SEC both push ahead with onchain finance rules while a broader crypto bill stays stalled in the Senate.
Commodity Futures Trading Commission Chair Michael Selig said regulators need to prepare markets for "mass tokenization" while tailoring current markets for new technology such as blockchain and artificial intelligence. He made the remarks Tuesday during a U.S. Treasury Market conference at the New York Fed, where he said the U.S. will continue to lead.
The Trump administration is preparing for a financial market overhaul as tokenization, onchain finance, and 24/7 trading move into the spotlight.
Selig points to a decade of change
Over the past year, the agency issued guidance and sought public comment on 24/7 trading for energy derivatives markets, reflecting its growing interest in continuous trading.
Separately, in February, the CFTC expanded its list of eligible collateral to include stablecoins issued by national trust banks. According to Selig, the agency will look for more ways to "encourage responsible stablecoin adoption for market participants, exchanges, and clearinghouses."
SEC advances tokenized stock rules
The CFTC's sister agency, the Securities and Exchange Commission, released its long-anticipated "innovation exemption" last week to make room for onchain trading of tokenized stock. Both agencies are moving ahead even as a bill to regulate the crypto industry overall stays stalled in the Senate.
Source: The Block
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