The Commodity Futures Trading Commission (CFTC) has significantly expanded its Global Markets Advisory Committee (GMAC) by appointing executives from major financial institutions to its digital assets subcommittee. This strategic move arrives as the agency continues its jurisdictional tug-of-war with the Securities and Exchange Commission (SEC) over the regulation of the cryptocurrency industry. The newly appointed members include representatives from traditional finance powerhouses such as BlackRock, BNY Mellon, and Goldman Sachs, who will join existing stakeholders from crypto-native firms like Polygon and Uniswap. The subcommittee is tasked with providing recommendations on the integration of digital assets into the current market structure, specifically focusing on clearing, settlement, and trading protocols. By bringing these industry heavyweights together, the CFTC aims to accelerate the development of a comprehensive regulatory framework that accommodates institutional participation while asserting its role as the lead regulator for digital commodities.
Source: CFTC Brings Crypto Heavyweights Onto Advisory Panel Amid Fight Over Market Structure
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