Mike Selig

They'd come in and try to get a meeting with Mr. Gensler and walk out with a subpoena.

And that's no longer the case at the SEC, thanks to Commissioner Peirce's vision.

And I wanted to do something similar at the CFTC.

So we have a little bit of a different take on it.

We're going to be focused on crypto, but also prediction markets and AI.

Because

As I mentioned, I think these all really go hand in hand, and they're critical technologies that we have to get the right policy here in the United States for.

So we're announcing that recently here in the United States and looking to get the builders and innovators and financial firms coming into the office to meet with us.

We're also going to use the task force to develop purpose-fit rules and regulations and policy.

So it's both a vehicle for folks to come in and talk to us, but also...

to work together with the different divisions within the agency, who, as I mentioned, they really haven't used crypto technology.

So we're bringing in some great folks from the outside who have worked at law firms and technologists and data scientists to join this team, but also bringing on some of the staff from within the divisions.

So we've really got a great group of individuals who are going to lead on this front and develop some purpose fit rules.

And we've also got this innovation advisory committee, which is comprised of some of the leading CEOs at both crypto firms, people like Brian Armstrong, but then also

People at the traditional large exchanges like Terry Duffy and Jeff Sprecher and Adina Friedman.

And then some of the new entrants in prediction markets like Shane Copeland and Tarek Mansour.

So it's really a great coalition.

And we've also got some great academics and industry groups on the team.

And that's going to be, I think, another vehicle to get input from the public and from the outside to make sure we're not just regulating from an ivory tower and telling everyone what to do.

We're figuring out what the markets want to do and setting the right rules of the road for them.