1. PixelPlaygroundHome
  2. Blockchain Briefs

CFTC Forms Technical Committee to Explore Emerging Technologies for Crypto Adoption

• Blockchain Briefs • 109 views

CFTC Forms Technical Committee to Explore Emerging Technologies for Crypto Adoption

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) announced the creation of a Technical Advisory Committee (TAC) to assist in the government’s exploration and education of emerging technologies. This committee will focus on technologies such as encryption and artificial intelligence and their potential impacts on the financial world. The committee will be composed of eleven members, including Corey Then, Vice President of Global Policy at Circle and ten other members from the cryptocurrency community.

The formation of the TAC marks an important development in the relationship between the US government and the cryptocurrency industry. The influence of the cryptocurrency industry on traditional finance has grown significantly in recent years, prompting the government to explore these emerging technologies. With experts from the industry now part of the TAC, the committee will help the government to better understand the potential of these technologies and their impacts on the economy.

One technology that the committee will focus on is encryption, which is already used extensively in cryptocurrencies. Encryption is the process of encoding data in a way that prevents unauthorized access. This technology is essential to the security of decentralized digital currencies, as it ensures that transactions on the blockchain are not accessible to anyone without the private key. Encryption technology could be adopted by traditional financial institutions to increase the security of their transactions.

Artificial intelligence (AI) is another area that the committee will explore. AI technology is already widely used in financial services, from fraud detection to trading algorithms. The committee will examine the potential of AI in improving the efficiency and accuracy of financial services. AI can be used to detect fraud and identify patterns in financial data that are not visible to human analysts.

The formation of the TAC further confirms the US government’s growing interest in the cryptocurrency industry. The inclusion of cryptocurrency experts on the committee also demonstrates a willingness to work with the industry to explore the potential of emerging technologies. This collaboration could lead to the integration of cryptocurrencies and blockchain technology into the traditional financial system.

In conclusion, the CFTC’s Technical Advisory Committee will play a crucial role in educating the government on emerging technologies that could have a significant impact on the financial world. By taking the input of experts from the cryptocurrency community, the TAC will be able to give a broader picture of crypto’s impact on the economy. The industry is poised to make significant inroads into the traditional financial system if given the right environment and opportunities. This committee could be the start of a new era of collaboration between the government and the cryptocurrency industry.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/6623/

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.

Like (0)
Previous 03/16/2023 10:59
Next 03/16/2023 11:29

Recommended articles