CFTC to tap Tyler Winklevoss, other crypto CEOs as first members of innovation panel

Core Insights - Mike Selig has recently assumed the role of chairman at the U.S. Commodity Futures Trading Commission (CFTC) and is restructuring the agency with a new innovation committee focused on cryptocurrency insiders [1][2] Group 1: Innovation Committee Formation - The new Innovation Advisory Committee will include executives from prominent crypto firms such as Gemini, Kraken, Bitnomial, Crypto.com, and Bullish, which is the parent company of CoinDesk [2] - The committee's formation builds on a previous initiative by former Acting Chairman Caroline Pham, who had assembled a group of CEOs focused on innovative financial technology [2][3] Group 2: Committee Objectives and Leadership Vision - Selig emphasized the importance of modernizing financial systems through technologies like artificial intelligence, blockchain, and cloud computing, aiming to create regulations that are suitable for the evolving financial landscape [4] - The Innovation Advisory Committee will assist the CFTC in drafting new market structure regulations, becoming one of five external committees designed to guide the agency based on members' expertise [4] Group 3: Public Engagement and Future Steps - The CFTC is inviting the public to submit additional nominees for committee membership and suggest topics for consideration, with a deadline set for the end of January [5]