CFTC 2.0: US Regulator Unveils Plan to Step Up Blockchain R&D

The US Commodities and Futures Trading Commission (CFTC) revealed a new fintech initiative today that will find the regulator seeking to increase its participation in the ongoing global RD effort related to blockchain and distributed ledger tech.

As part of a sweeping CFTC 2.0 proposal, the US options and futures regulator is launching LabCFTC, a fintech initiative that will seek to bolster the pace at which the regulator assesses new technologies. The aim, according to the CFTC, is to become “more accessible” to innovators working on new financial technologies through the program.

The CFTC also made public a LabCFTC component called GuidePoint, both an online tool that will provide a point of contact for entrepreneurs, and a physical location in New York where they can find an open door for such guidance, and “CFTC 2.0”, described as an initiative to foster and help initiate the adoption of new technology within the agency.

In statements today at the New York FinTech Innovation Lab, Chairman Christopher Giancarlo characterized the mission as one that would seek to explore new technologies including AI, machine learning and DLT.

In particular, he cited advances such as “smart contracts that value themselves and calculate payments in real-time” and “distributed ledger technology, more

Read more ... source: CoinDesk

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