CFTC Chair Michael Selig Sets Up Innovation Task Force for Crypto Derivatives

The CFTC authorized a dedicated Innovation Task Force on Tuesday to update its regulatory approach for crypto assets, artificial intelligence, and prediction markets. The effort, led by senior adviser Michael Passalacqua, is positioned as a shift from enforcement-led oversight toward clearer compliance pathways for decentralized protocols. Michael Selig later said on March 12, 2026 that U.S. markets must prevent manipulation and fraud to avoid another FTX-like collapse.