Acting chair Caroline Pham opens nominations for a CEO-led advisory council to guide policy on digital assets, prediction markets, and emerging financial products
The U.S. Commodity Futures Trading Commission (CFTC) has opened nominations for a new CEO Innovation Council, signaling the agency’s intent to strengthen its oversight of digital assets and other fast-evolving financial markets. Acting chair Caroline Pham said the group will play a central role in shaping policy across crypto markets, prediction platforms, and emerging product categories as the CFTC’s mandate continues to expand.
CFTC Launches CEO Innovation Council Focused on Digital Assets
In a notice released Tuesday, Pham announced that submissions for council membership will be accepted until Dec. 8. She emphasized that the initiative builds on previous CFTC engagement efforts — including the “Crypto Sprint” and various digital-asset industry forums — as well as ongoing legislative work in Congress on a comprehensive market structure bill.
Pham noted that the council will support the agency’s “expanded mission over crypto and prediction markets,” highlighting the increasing importance of expert input as digital assets gain mainstream relevance.
She stated, “The CFTC stands ready to carry out our mission over expanded markets and products, including crypto and digital assets, and ensure our markets remain vibrant and resilient while protecting all participants.” She added that industry visionaries are essential to driving effective public engagement.
Leadership Transition May Shape Council’s Direction
While nominations are underway, it remains unclear when the council will be formally assembled. Pham may not remain at the helm long enough to launch it herself, as the commission is expected to see a leadership transition soon.
SEC official Michael Selig, nominated to become the next Senate-confirmed CFTC chair, is awaiting a floor vote. Many lawmakers are not expected to return to Capitol Hill until after the Thanksgiving recess, potentially delaying any final decision.
Selig Signals Strong Focus on Crypto Regulation
Selig’s testimony before the Senate Agriculture Committee last week offered insight into how he might approach digital asset policy if confirmed. He argued that it is “vitally important” to have a “cop on the beat” for overseeing spot digital-asset commodity markets, pointing to gaps in federal oversight.
He also emphasized the need for diverse leadership, noting that the CFTC has operated with only one commissioner — Pham — for months. As of Tuesday, no additional nominations had been announced by the White House.
The creation of a CEO Innovation Council underscores the CFTC’s commitment to modernizing its regulatory approach as digital-asset markets expand. With leadership changes expected and crypto oversight becoming increasingly urgent, the council is poised to become a critical advisory body shaping the future of U.S. financial innovation policy.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.