The U.S. Commodity Futures Trading Commission (CFTC) has announced the first members of its newly formed Innovation Task Force (ITF), an initiative aimed at strengthening regulatory clarity around emerging technologies such as cryptocurrency, artificial intelligence, and prediction markets.
The task force was launched on March 24 by CFTC Chairman Michael S. Selig, who appointed Michael J. Passalacqua to lead the initiative.
Passalacqua currently serves as a senior advisor to the chairman and will oversee the task force’s efforts to coordinate with the Commission on developing policy frameworks for rapidly evolving technology sectors.
According to the CFTC, the ITF will focus on building a clearer regulatory environment for innovators working with crypto assets and blockchain technology, as well as artificial intelligence, autonomous systems, and event-based prediction markets.
The agency said the group will collaborate with various divisions within the Commission while drawing on expertise from individuals with extensive private-sector experience.
Passalacqua will be joined by five initial members serving as senior advisors to the task force. These include Hank Balaban, a former attorney at Latham & Watkins who worked in the firm’s digital asset and emerging companies practices, and Sam Canavos, previously a consultant at Patomak Global Partners advising firms on U.S. regulatory issues related to crypto and prediction markets.
The team also includes Mark Fajfar, a legal veteran from the CFTC’s Office of the General Counsel with more than a decade of experience in financial regulatory matters.
Eugene Gonzalez IV, formerly a blockchain and fintech lawyer at Sidley Austin, has also joined the task force. Dina Moussa, currently special counsel in the CFTC’s Market Participants Division, completes the initial lineup.
In a statement, Chairman Selig said the task force brings together experts with deep industry and regulatory experience. He emphasized that the initiative is designed to help deliver “clear rules of the road” for innovators while supporting responsible technological development in U.S. financial markets.
The formation of the Innovation Task Force reflects a broader effort by regulators to address the growing influence of digital assets and emerging technologies within the financial system.
